U.S. imposes sweeping sanctions on Iran, targets Khamenei-linked foundation

The United States on Wednesday imposed broad sanctions targeting Iran, blacklisting a foundation controlled by Supreme Leader Ayatollah Ali Khamenei and taking aim at what Washington called Iran’s human rights abuses a year after a deadly crackdown on anti-government demonstrators.

The sanctions announced by the U.S. Treasury Department, which also targeted Iran’s intelligence minister, are the latest action to reinforce the “maximum pressure” campaign on Iran pursued by President Donald Trump’s administration. They come little more than two months before Trump is due to hand over power to Joe Biden after losing a Nov. 3 election.

The department imposed sanctions on what it described as a key patronage network for Khamenei. It said it blacklisted the Bonyad Mostazafan, or the Foundation of the Oppressed, which is controlled by Khamenei, in a move also targeting 10 individuals and 50 subsidiaries of the foundation in sectors including energy, mining and financial services.

The sanctions freeze any U.S. assets of those targeted and generally bar Americans from doing business with them. Anyone who engages in certain transactions with these individuals and entities runs the risk of being hit with U.S. sanctions.

The charitable foundation - an economic, cultural and social-welfare institution - has amassed vast amounts of wealth to the detriment of the rest of the Iranian economy and controls hundreds of companies and properties confiscated since the 1979 Islamic Revolution, insiders say.

The Treasury Department in a statement accused Khamenei of using the foundation’s holdings to “enrich his office, reward his political allies, and persecute the regime’s enemies.”

U.S. Treasury Secretary Steven Mnuchin said in the statement: “The United States will continue to target key officials and revenue-generating sources that enable the regime’s ongoing repression of its own people.”