US hits Iran firms with sanctions for counterfeit Yemen cash

The main office of the Pardazesh Tasvir Rayan Co. is shown in this picture, courtesy of tasvirrayan.com.
Updated 20 November 2017
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US hits Iran firms with sanctions for counterfeit Yemen cash

WASHINGTON: The US Treasury Department on Monday sanctioned a network of individuals and companies it said counterfeited Yemeni bank notes potentially worth hundreds of millions of dollars for Iran Revolutionary Guard’s Qods Force.
The network circumvented European export restrictions in order to provide the counterfeiting supplies and equipment, according to a Treasury statement.
President Donald Trump last month declared Iran’s Revolutionary Guard a supporter of terrorism and authorized Treasury to impose tough sanctions limiting its access to goods and funding.
Republican Trump has been critical of the 2015 agreement his predecessor, former President Barack Obama, a Democrat, reached with Iran and said the United States must take stronger steps to ensure the country does not acquire nuclear weapons.
The counterfeiting scheme exposed the “deep levels of deception” that the Qods Force, a Revolutionary Guard unit carrying out missions outside the country, employs “against companies in Europe, governments in the Gulf, and the rest of the world to support its destabilizing activities,” said Treasury Secretary Steven Mnuchin.
According to Treasury, Pardavesh Tasvir Rayan Co. is a printing operation controlled by businessman Reza Heidari and owned by Tejarat Almas Mobin Holding that procured equipment and materials to print counterfeit Yemeni rial bank notes.
Qods Force used the currency to support its activities.
Heidari used front companies and other methods to keep European suppliers in the dark about their ultimate customer. He coordinated with Mahmoud Seif, Tejarat’s managing director, on the logistics of procuring materials and moving them into Iran, Treasury said.
Treasury sanctioned both men and both companies, as well as ForEnt Technik GmbH, which Heidari owns, and Printing Trade Center GmbH for serving as front companies in the operation.


Libya loses 400,000 barrels of storage capacity due to militant attacks

Updated 19 June 2018
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Libya loses 400,000 barrels of storage capacity due to militant attacks

LONDON: Libya’s National Oil Corporation (NOC) said that at least 400,000 barrels of storage capacity has been lost within the past few days due to militant attacks on Ras Lanuf and Al-Sidra.
The NOC announced Monday that it has suffered “catastrophic losses” when two storage tanks were destroyed during fierce clashes in its oil crescent, northeast of the country.
Armed groups on Thursday attacked the Ras Lanuf and Al-Sidra terminals held by Haftar’s forces around 650 kilometers (400 miles) east of Tripoli.
Haftar led a “major offensive” on Sunday following the attacks to drive rival groups from the country’s northeastern oil crescent.
NOC chief Mustafa Sonallah warned in statements carried by Reuters that if oil exports from these terminals remain at a standstill it could cause a “national disaster.”
The oil firm warned on Friday that output could fall by up to 400,000 barrels per day if the export shutdown continues.