Risk Level:
99% May harm your business future; Persons or entities that engage in transactions with this entity will be exposed to sanctions or subject to an enforcement action;

Working with this entity means supporting Iranian Regime, Regime Terrorist Activities & development of WMD

Status:
Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation

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;


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IFMAT Color Guide

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We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
 
TOP ALERT
Designated / Sanctioned / Illicit entities
 
HIGH ALERT
Entities affiliated with Designated / Sanctioned / Illicit entities.
 
MEDIUM ALERT
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
 
RISK ALERT
Entities in a problematic sector - Sector controlled by the Top Alert entities.
 
GENERAL ALERT
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.