Info:
Irasco S.R.L. is a Genoa, Italy-based entity that is owned or controlled by Ascotec Holding GmbH.
Irasco S.R.L. is part of Iran’s foreign trade network;
Irasco’s shareholders are the German trade and consulting company Ascotec Gmbh (51% of the shares) and the Iranian engineering and general contracting company IRITEC Iran International Engineering Company (49% of the shares);
Ascotec Holding GMBH is involved in the procurement of goods for Iran missile program;
Ascotec Holding GMBH is owned 70% by Khouzestan Steel Co. (KSC) and 30% by Mobarakeh Steel Co. (MSC), both of which are subsidiaries of the National Iranian Steel Company ( NISCO), which is affiliated with the Iranian Ministry of Industries and Mines;
As part of the re-imposition of U.S. sanctions on Iran, added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13599 and subject to the Iranian Financial Sanctions Regulations; foreign financial institutions facilitating transactions for the entity may be prohibited from opening or maintaining correspondent or payable-through accounts in the United States;
Also Known As:
IRASCO ITALY
IRASCO SRL
Involved In:
Military Weapon Program
Established:
1994
Country:
Italy
Address:
Via Di Francia 3, Genoa 16149, Italy
Phone:
+39 010 6099411
Website:
www.irasco.it
Email:
irasco@irasco.it
Reason for the color:
» As part of the re-imposition of U.S. sanctions on Iran, added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13599 and subject to the Iranian Financial Sanctions Regulations; foreign financial institutions facilitating transactions for the entity may be prohibited from opening or maintaining correspondent or payable-through accounts in the United States;
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on August 3, 2010;
» Removed from the SDN list in January 2016 as part of the Joint Comprehensive Plan of Action;
» Irasco’s shareholders are the German trade and consulting company Ascotec Gmbh (51% of the shares) and the Iranian engineering and general contracting company IRITEC Iran International Engineering Company (49% of the shares);
» Ascotec is involved in the procurement of goods for Iran missile program;