AP: "The Bush administration on Wednesday slapped financial sanctions on a major Iranian shipping line and its affiliates for allegedly helping to transfer military-related arms and cargo. The departments of State and Treasury announced the action against the Islamic Republic of Iran Shipping Lines, also known as IRISL, and 18 of its affiliates for providing logistical services to Iran's Ministry of Defense and Armed Forces Logistics, which controls Iran's ballistic missile research, development and production activities. The action means that any bank accounts or other financial assets belonging to the company that are found in the United States are frozen. Americans also are forbidden from doing business with the company and its affiliates." Interesting related developments noted here.

Posted by Laura at September 10, 2008 01:44 PM