U.S. blacklists 37 companies in dispute with Iran

TEHRAN,June 8(MNA)– A global network of private companies were blacklisted by the United States on Tuesday for allegedly providing revenue to the Iranian government’s leadership and helping it circumvent international sanctions on Tehran’s nuclear program, the U.S. Treasury Department said, Reuters reported. The move targets 37 companies spread across the world, from Iran to Croatia, Germany and South Africa. The sanctions prohibit U.S. citizens and companies from dealing with the firms. Any foreign financial institutions dealing with them risk getting cut off from the U.S. financial system. The Treasury Department said the companies are governed by the Execution of Imam Khomeini’s Order, or EIKO - a program set up by Iran’s leadership to manage its commercial holdings - and earn tens of billions of dollars in profits. Ayatollah Ruhollah Khomeini was a leader of the 1979 revolution that established the Islamic Republic of Iran. It said the firms have business links to Iran’s government but usually have non-Iranian or Iranian expatriate owners to get around restrictions on the government’s ability to do business in Europe and other parts of the world. The United States and certain other Western powers believe Iran’s nuclear program is aimed at developing atomic weapons. Tehran denies the charge, saying it is strictly for power generation and medical purposes.