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OFAC has announced it has designated a network of seven front companies and five agents involved in the procurement of sensitive materials for sanctioned elements of Iran’s nuclear program. The individuals and entities targeted are based in Iran, China, and Belgium and have acted as a procurement network for Iran’s Centrifuge Technology Company (TESA), which plays a crucial role in Iran’s uranium enrichment nuclear program through the production of centrifuges used in facilities belonging to the Atomic Energy Organization of Iran (AEOI). The targeted companies and agents are identified in BankersOnline's OFAC Update.
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