WASHINGTON (AP) — The Obama administration imposed sanctions Tuesday on 11 companies tied to an Iranian bank that the United States and others say is helping to fund Iran's nuclear and ballistic missile programs.
The penalties announced by the Treasury bar any transactions between the firms, which are either owned by or linked to Iran's Bank Melli or its subsidiaries, and U.S. citizens and freeze any assets the firms may have in U.S. jurisdictions.
The companies targeted by the sanctions include several manufacturing and investment concerns in Iran, along with holding firms based in Dubai and some with offices in the Cayman Islands, Treasury said in a statement.
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