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OFAC sanctions Iran’s National Development Fund & amends Central Bank of Iran designation

04/10/2019

OFAC has listed Iran’s National Development Fund (NDF) and Etemad Tejarate Pars Co. under the newly-enhanced counter-terrorism authority

The sanctions come in response to “Iran’s brazen attack against Saudi Arabia”, and the State Department’s says that evidence for the attack “points to Iran – and only Iran”.

The NDF reportedly provided the IRGC-QF, Iran’s Ministry of Defence, and Iran’s Atomic Energy Organisation with hundreds of millions of USD from 2017 to 2019, whilst Etemad Tejarate is said to have transferred and concealed some of the military related transfers.

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