Lim Young Nam, aka Steven Lim, pleaded guilty to a charge of conspiracy to defraud the United States by dishonest means. Between August 2007 and February 2008, Lim was involved in a scheme to illegally purchase and export 6,000 radio frequency modules with encryption and long-range wireless data transmission capabilities from a Minnesota-based company. Lim, a citizen of Singapore, falsely portrayed Singapore as the ultimate destination for the goods, when the actual destination was Iran. At least 14 of the modules were later found as components of improvised explosive devices (IEDs) in Iraq.
News Briefs
December 15, 2016
December 15, 2016
Kenneth Zong has been charged with violating the International Emergency Economic Powers Act (IEEPA) and assisting Iran to evade international sanctions. Zong allegedly used his Korea-based company Anchore (formerly KSI Ejder) to create fake business transactions in order to convert $1 billion worth of Iranian funds into dollars and euros. Zong then received $10-$17 million in payment for these services from Iranian nationals. While Zong is the only defendant in the 47-count indictment, four unnamed co-conspirators (three Iranian and one U.S. citizen) participated in the conspiracy, which took place between January 2011 and at least April 2014. Other parties may include Zong's son Mitchell Sub Zong as well as Mitchell's university classmate Majid Farsoodeh and his company Farsoodeh & Partnership. Kenneth Zong is currently in prison in South Korea.
-- Alaska Dispatch News
December 15, 2016
The Iran Sanctions Act (ISA) was renewed with overwhelming Congressional support but without President Barack Obama's signature. The White House issued a statement saying that the administration viewed the ISA extension as unnecessary, but in line with U.S. commitments under the Joint Comprehensive Plan of Action.
-- The Wall Street Journal
December 14, 2016
Iranian President Hassan Rouhani has ordered the Atomic Energy Organization of Iran (AEOI) to begin research and development of nuclear fuel for naval propulsion systems. The order comes in retaliation to the United States' extension of the Iran Sanctions Act (ISA). In addition, Iran plans to file a formal complaint with the Joint Commission regarding the ISA extension. Iranian officials have previously announced plans to enrich uranium for nuclear-fueled vessels, including to 60 percent enriched uranium.
-- Fars News Agency
December 11, 2016
Earlier this month, the Iranian Supreme Court upheld the death sentence of Babak Zanjani, an Iranian national convicted of fraud for owing the Iranian government $2.7 billion in oil revenue. However, a judiciary spokesman announced that Zanjani may be spared if he reimburses the funds. Zanjani made illicit oil deals on behalf of the Iranian government using a network of companies located in Turkey, Malaysia, and the United Arab Emirates.
-- Reuters
December 11, 2016
Boeing has finalized a deal to sell 80 jetliners to Iran's state-owned airline Iran Air. Announced in June, the deal is valued at $16.6 billion.
-- The Wall Street Journal
December 10, 2016
Islamic Republic of Iran Shipping Lines (IRISL) has placed a $700 million order with Hyundai Heavy Industries Co. for four mega-container vessels and six tankers. The deal is part of a $2.5 billion fleet modernization plan by IRISL and the Iranian Offshore Oil Co., a National Iranian Oil Co. (NIOC) subsidiary. The first ships are expected to be delivered to Iran early in 2018. In the interim, Iran has been chartering vessels, including from Greek companies.
-- The Wall Street Journal
December 6, 2016
The International Atomic Energy Agency (IAEA) has confirmed that Iran sent 11 tons of heavy water to Oman, bringing it back under the 130-ton soft limit set by the nuclear agreement. The IAEA had reported earlier this month that Iran had violated that limit for a second time. The United States and its allies view the shipment as a step in the right direction, but have highlighted the fact that Oman is not the ultimate destination and that the heavy water must be delivered to a foreign buyer.
-- Reuters
November 29, 2016
A report by the British organization Conflict Armament Research links weapons seized in the Persian Gulf to Iran. The report specifically notes that two of the dhows raided had been manufactured by Al Mansoor, an Iranian ship building company located near an Iranian Revolutionary Guards base. The report also notes that the seized weapons match arms taken from Houthi rebels in Yemen, though Iranian officials deny supplying the Houthis.
-- Reuters
November 26, 2016
The U.S. Treasury Department's Office of Foreign Assets Control issued a second license to French firm Airbus for the sale of 106 commercial aircraft to Iran. Airbus had previously been granted permission for the sale of 17 planes. Airbus needs approval for the sale because at least 10 percent of the aircraft's components are American-made. The U.S. Treasury has also placed restrictions on the planes, requiring that they only be used for commercial purposes.
-- Reuters