Hong Kong

Add. Flat 2002C, 20F, Multifield Commercial Centre, 426 Shanghai Street, Mongkok, Kowloon, Hong Kong, China; Workshop 603F, Block A, East Sun Industrial Centre, No. 16 Shing Yip Street, Kowloon, Hong Kong, China

2814827, Company Number

FY International Trading Co., Limited (FYIT) is a Hong Kong-based front company for PKGB that has procured orders of UAV engines and Western-origin carburetors for PKGB. FYIT has conducted millions of dollars’ worth of transactions through the U.S. financial system, including sending or receiving transactions of more than $16 million since 2021. FYIT has received transactions from OFAC designated Torgan Co. Limited and Lowell Limited, demonstrating FYIT’s connection to Iranian shadow banking networks, a multi-jurisdictional illicit finance system that grants Iranian entities access to the international financial system and obfuscates Iranian trade with foreign customers. End users of FYIT’s UAV-related procurements for PKGB include the Shahed Aviation Industries Research Center. On November 15, 2022, OFAC designated Iran’s SAIRC, a firm subordinate to the IRGC Aerospace Force (IRGC ASF) that designs and manufactures the Shahed-136 one-way attack UAV that Iran has supplied to Russia for use against Ukraine. The IRGC ASF was designated pursuant to E.O. 13382 on June 16, 2010.

https://home.treasury.gov/news/press-releases/jy2073

2024-02-02

US

Iranian Financial Sanctions Regulations, 31 CFR part 561

OFAC country specific

Iran

Blocking Property, Suspending Entry, Trade sanctions

• https://ofac.treasury.gov/faqs/topic/1551

On August 16, 2010, OFAC issued the Iranian Financial Sanctions Regulations, 31 CFR part 561 (75 FR 49836, August 16, 2010) (IFSR) to implement provisions of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (Pub. L. 111–195) (22 U.S.C. 8501–8551). Since then, OFAC has amended the IFSR several times.

SDN