On Wednesday the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on Informatics Services Corporation (ISC). The company is a subsidiary of the Central Bank of Iran and developed its central bank digital currency (CBDC) and other payment systems.
In addition to the ISC, two firms in Dubai and one in Turkey are also sanctioned for procuring technology on behalf of ISC. The UAE based entities are Advance Banking Solution Trading and Freedom Star General Trading. OFAC says ISC procured information security items subject to national security and anti-terrorism controls.
“The Central Bank of Iran has played a critical role in providing financial support to the IRGC-QF (Revolutionary Guard-Qods Force) and Hizballah, two key actors intent on further destabilizing the Middle East,” said Brian E. Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence.
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