Retaliatory Sanctions: Iran Blacklists Lockheed Martin, Chevron and 22 Others

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Mayur Joshi
Mayur Joshihttp://www.mayurjoshi.com
Mayur Joshi is a prominent forensic accounting evangelist based in Pune, India. As a contributing editor to Regtechtimes, he is recognized for his insightful reporting and analysis on financial crimes, particularly in the realms of espionage and sanctions. Mayur's expertise extends globally, with a notable focus on the sanctions imposed by OFAC, as well as those from the US, UK, and Australia. He has authored seven books on financial crimes and compliance, solidifying his reputation as a thought leader in the industry. One of his significant contributions is designing India's first certification program in Anti-Money Laundering, highlighting his commitment to enhancing AML practices. His book on global sanctions further underscores his deep knowledge and influence in the field of regtech.

The Iranian Foreign Minister has announced retaliatory sanctions on more than two dozen American and British individuals and entities for their alleged support of Israel in what Iran describes as ‘terrorist acts’ and ‘human rights violations’ against the Palestinian people.

According to Iranian state news agency IRNA, this move is a response to fresh sanctions imposed on Iran by the US, UK, and Canada following Iran’s recent attack on Israel.

In a statement released by the Iranian Foreign Ministry, it was mentioned that the blacklisted individuals and entities have allegedly assisted the Israeli regime in its actions against regional and international peace. The Ministry cited the “Law on Countering the Violation of Human Rights and Adventurous and Terrorist Activities of the United States in the Region” (2017) as the legal basis for these sanctions.

Retaliatory sanctions are punitive measures imposed by one country against another in response to actions deemed unacceptable or harmful. Retaliatory sanctions are often imposed as a form of retaliation for actions taken by the target country.

Retaliatory Sanctions on Businesses

Among the sanctioned American companies are The Lockheed Martin Corporation, General Dynamics, Skydio Engineering Company, Chevron Corporation, and Kharon Company.

Additionally, Iran has imposed retaliatory sanctions on six American individuals and seven American entities, accusing them of supporting Israel in its alleged heinous acts against Palestinians, particularly in the Gaza Strip.

The individuals who will face retaliatory sanctions by Iran include executive vice president and chief legal officer to Donald Trump and the Trump Organization, Jason Greenblatt, senior fellow at the American Enterprise Institute, Michael Rubin, policy director of United against Nuclear Iran, Jason Brodsky, founder and president of FDD, Clifford D. May, United States Army general, Bryan P. Fenton, Commander, US Naval Forces Central Command, Brad Cooper, and CEO of RTX Corporation, Gregory J. Hayes.

Retaliatory Sanctions on UK

Iran has also imposed retaliatory sanctions on UK individuals and entities for their alleged deliberate support and facilitation of the Israeli regime’s actions.

These actions include committing terrorist acts against regional and international peace and security, systematic violation of human rights, warmongering, use of heavy weaponry and prohibited weapons against civilians, displacement of the Palestinian people, expansion of illegal settlements in occupied territory, and continuation of occupation.

Entities that were put on the blacklist in the retaliatory sanctions process include Royal Air Force Akrotiri in Cyprus, UK Royal Navy in Red Sea HMC Diamond, Elbit Systems, Parker Meggitt, and UK Rafael.

Individuals sanctioned include UK’s Secretary of State for Defense, Grant Shapps, Commander of the British Army Strategic Command, James Hockenhull, Deputy Chief of the General Staff, Sharon Nesmith, Assistant Chief of the General Staff, Paul Raymond Griffiths, Director of Defense Intelligence of British Army, Adrian Bird, Commander of UK Royal Navy in Red Sea HMC Richmond, Richard Kemp, Commander of Royal Air Force Akrotiri, Simon Cloke, and Commander of UK Royal Navy in Red Sea HMC Diamond, Peter Ivans.

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Following the Iranian Foreign Ministry’s orders, all relevant national institutions of the Islamic Republic of Iran will take appropriate measures, including blocking accounts and transactions in the Iranian financial and banking systems, blocking assets within the jurisdiction of Iran, as well as prohibiting visa issuance and entry to the territory of Iran, for the effective implementation of the above-mentioned sanctions.

Iran and West Tension Increases

The tensions between Iran and the West escalated after Iran launched an unprecedented attack on Israel in response to an attack on its consulate in Syria. In response, the United States imposed sanctions on over a dozen entities, eight individuals, and vessels that have facilitated illicit trade and unmanned aerial vehicle (UAV) transfer on behalf of the Iranian military.

According to a statement by the US State Department, the United States imposed sanctions on 16 entities and eight individuals, as well as identified as blocked property five vessels and one aircraft, that have facilitated illicit trade and the sale of unmanned aerial vehicles (UAVs) in support of Iran’s Ministry of Defence and Armed Forces Logistics (MODAFL) and the regime’s UAV development and procurement.

Moreover, the UK and Canada are imposing sanctions targeting several entities and individuals involved in Iran’s UAV procurement and other military-related activities, respectively.

Sahara Thunder has been identified as the key front company for MODAFL’s illicit financing and a central player in Iran’s design, development, manufacture, and sale of thousands of UAVs.

OFAC Sanctions 12 Companies: Sahara Thunder in Forefront

Several countries in the Middle East closed their airspace a few hours before Iran launched a standoff attack against Israel around midnight on 13 April. Iran’s attack sent around 170 drones, over 30 cruise missiles, and more than 120 ballistic missiles toward Israel.

Earlier, in response to Iran’s unprecedented mass drone and missile strike on Israel, the United States imposed sanctions on the actors involved in Tehran’s unmanned aerial vehicle (UAV) program, including suppliers and customers, the White House said in an official statement.

The sanctions target leaders and entities connected to the Islamic Revolutionary Guard Corps (IRGC), Iran’s Defence Ministry, and many of the Iranian government’s missile and drone programs.

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