IRASCO S.R.L.

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)

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

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

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;