Iranian Entity: Melli Bank PLC

Melli Bank

Listed by the European Union on June 24, 2008 as an entity linked to Iran's proliferation-sensitive nuclear activities or Iran's development of nuclear weapon delivery systems; with some exceptions, and within their jurisdiction, European Union member states must freeze all funds and economic resources owned, held or controlled by the listed entity, and must also ensure that funds or economic resources are not made available to or for the benefit of the listed entity; added to the Specially Designated National (SDN) list maintained by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on October 25, 2007, freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction (WMD) and their delivery systems; wholly owned subsidiary of Bank Melli Iran (see separate entity record); according to the European Union, Bank Melli Iran and its subsidiaries provide or attempt to provide financial support and services, such as facilitating purchases of sensitive materials, maintaining accounts and opening letters of credit, for companies that are involved in or procure goods for Iran's nuclear and missile programs, including AIO (Aerospace Industries Organization), SHIG (Shahid Hemat Industrial Group), SBIG (Shahid Bagheri Industrial Group), AEOI (Atomic Energy Organization of Iran), DIO (Defense Industries Organization), Novin Energy Company, Mesbah Energy Company, and Kalaye Electric Company (see separate entity records); board of directors includes Mr. A. Sedghi (Chairman and Non-executive Director), Dr. A. Azizi (Deputy Chairman and Managing Director), executive directors Mr. B. Ataii, Mr. S. M. Vahidi, and Mr. A. Zand, and non-executive directors Mr. J. Pearson, Mr. J. Thompson, and Mr. G. Zaferani, as of December 2007; started operations in January 2002; UK registration No. 4152338.