The United States Department of the Treasury has announced sanctions targeting an İstanbul-based financial technology company and its Iranian chairperson. Federal authorities allege that the firm facilitated operations within an international sanctions evasion network serving Iranian financial institutions.
Sources:
The United States Treasury Department has imposed sanctions on Emti Fiber Textile Import Export Trade Limited Company, an Istanbul-based firm. The manufacturer is accused of executing hundreds of shipments of cotton linters—a key material utilized in the production of nitrocellulose for solid-fuel rocket motors—to an Iranian company, Pardisan Rezvan Shargh. Washington alleges that these materials indirectly support the ballistic missile programs managed by the Iranian government. Consequently, the Turkish firm's assets under U.S. jurisdiction have been frozen, cutting it off from the American financial system.
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