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As Iran, P5+1 work to implement Geneva deal, US tightens sanctions on Tehran | JPost | Israel News.

12/12/2013 16:43

Washington insists move closes loopholes in current sanctions regime taken advantage of by the Islamic Republic, and does not impose new penalties that would violate Geneva deal.

US Secretary of State Kerry shakes the hand of Iranian counterpart Zarif in Geneva, Nov 24, 2013. Photo: REUTERS/Denis Balibouse

WASHINGTON – The United States is further tightening the screws of its sanctions regime against Iran, the US departments of State and Treasury announced on Thursday, citing “Iran’s efforts to use deceptive practices and front companies to further its nuclear program” just as its government negotiates with world powers for a peaceful settlement to the longstanding crisis.

The new enforcement measures include over a dozen designations of companies located across the world, including Singapore, Cyprus, and Iran itself.

Any assets between the companies listed and Iran that have come under US jurisdiction have been frozen.

A series of companies listed violate an executive order signed by US President Barack Obama that targets individuals, firms, and financial institutions involved in or linked to Iran’s nuclear and ballistic missile programs.

Another group of firms evades existing sanctions, primarily the shipment of crude oil, including Vitaly Sokolenko, Ferland Company Limited, Siqiriya Maritime, Singa Tankers and Mid Oil Asia.

“The Joint Plan of Action reached in Geneva does not, and will not, interfere with our continued efforts to expose and disrupt those supporting Iran’s nuclear program or seeking to evade our sanctions,” said Under Secretary for Terrorism and Financial Intelligence David S. Cohen.

Cohen listed the existing executive orders that have been violated as E.O. 13645 and E.O. 13382, and noted that the companies in violation have been added to a list of sanctions evaders consistent with practice under existing laws.

“Today’s actions should be a stark reminder to businesses, banks and brokers everywhere that we will continue relentlessly to enforce our sanctions,” Cohen added, “even as we explore the possibility of a long-term, comprehensive resolution of our concerns with Iran’s nuclear program.”

“Sanctions pressure will be essential as we seek a comprehensive, long-term solution,” one senior administration official said in reaction to the new enforcement measures.

The action comes just one day after US Secretary of State John Kerry briefed the Senate on details of a deal reached in Geneva last month between Iran and the P5+1— the US, United Kingdom, France, Russia, China and Germany— pressing his former colleagues to hold off on new sanctions legislation, which Iran says would render the interim agreement “entirely dead.”

In the Join Plan of Action signed in Geneva in November, one provision of the deal outlines consent by the White House— on behalf of the entire US government— that “the US administration, acting consistent with the respective roles of the President and the Congress, will refrain from imposing new nuclear-related sanctions.”

“There’s a very clear distinction” between new sanctions legislation and stricter enforcement of existing sanctions, and the Iranians understand that, the senior administration official said.

Key senators plan on introducing the new bill, which aims to bring Iranian crude exports down by at least half its current figure, in the next several days. Senate leaders vow to respect the six-month time-frame built into the Geneva deal.

Sanctions since 2011 have already cut Iranian oil exports by 60 percent.

The official said that claims in media outlets made by Israeli security officials that the Geneva deal grants Iran $20 billion in sanctions relief are “fantastical.”

Business leaders are jumping the gun if they choose to forge relationships with Tehran, he added.

“I hope they don’t have a six month visa,” the official said. “There’s no reason to think there’s great business opportunity in Iran today.”

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