Turkish firm faces US sanctions for transferring tech to Iran.

February 15, 2024
1 min read


Turkey-based company Ted Teknoloji Gelistirme Hizmetleri Sanayi Ticaret Anonim Sirketi (Ted) has been hit with US sanctions for helping transfer US technology and goods to Iran and its central bank. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on Ted, as well as three other companies in Iran and the UAE, and three individuals. Ted serves as the in-country representative for Iran-based Informatics Services Corporation (ISC) and acquired US goods and technology in coordination with ISC front companies. ISC is a subsidiary of the Central Bank of Iran (CBI), which oversees Iran’s electronic banking clearance network and is affiliated with Iran’s electronic card payment network. The CBI has been designated for having material assisted the Islamic Revolutionary Guard Corps-Quds Force and Hezbollah.+

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