Implications of the New Iran Revolutionary Guard Sanctions

(Foundation for Defense of Democracies) Annie Fixler - The U.S. Treasury designated Iran's Islamic Revolutionary Guard Corps (IRGC) for its support for terrorism on Friday. The new designation does not impose additional legal restrictions, but communicates the U.S. assessment that the IRGC is a funder of global terrorism. Given the Revolutionary Guard's pervasive role in the Iranian economy, any company doing business with Iran runs the risk of violating this new designation. Working with any of the thousands of IRGC subsidiaries and affiliates would make foreign companies a partner to a terrorist group and thus expose them to legal risk. Friday's action did not add the IRGC to the State Department's Foreign Terrorist Organization list. However, it enables Treasury to sanction individuals, companies, and financial institutions that support the IRGC.

2017-10-23 00:00:00

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