Iranian Bank Deemed Arms Financier
WASHINGTON [MENL] -- A Teheran-based bank has been designated a financier
of the Iranian military.
The United States has determined that Iran's Bank Refah was financing
weapons procurement for the Teheran regime. The Treasury Department said
Refah was providing financial services to the Iranian Defense Ministry as
well as state-owned defense contractors.
"These purchases included missiles and tanks and enabled Iran's
leadership to maintain its fighter jets and submarines," Treasury said.
In a statement on Feb. 17, Treasury said Refah was working with the
state-owned Iran Aircraft Manufacturing Industrial Co., known by its Iranian
acronym, HESA. Officials said the bank also facilitated payments to Iranian
agents linked to weapons procurement.
"Bank Refah also facilitated payments from HESA to businesses and
individuals linked to Iran's weapons-related procurement," Treasury said.
Officials said Refah facilitated the purchase of millions of dollars
worth of weapons by the Defense Ministry. They said Washington would
freeze any assets linked to Refah.
"Treasury has now exposed and sanctioned 20 banks owned by the
government of Iran for supporting Iran's nuclear and missile programs or
terrorism," Treasury Undersecretary Stuart Levey said.
In July 2010, the European Union imposed sanctions on Bank Refah.
Officials said Refah took over operations of Iran's Bank Melli, also
designated a financier of the military.
