A mural in Washington depicts Mahsa Amini, whose death sparked mass protests in Iran. Joshua Longmore / The National
A mural in Washington depicts Mahsa Amini, whose death sparked mass protests in Iran. Joshua Longmore / The National

US announces new Iran sanctions over 'human rights abuses'



The US on Wednesday imposed new sanctions against 12 people involved with “violent and coercive tactics” used against Iranians domestically and internationally since the mass protest movement that began in 2022.

“Today’s actions target members of the Islamic Revolutionary Guard Corps, officials of Iran’s Prisons Organisation and those responsible for lethal operations overseas,” US State Department spokesman Matthew Miller said in a statement.

“Certain individuals sanctioned today were responsible for human rights abuses, including those involving the deaths and violent repression of prisoners protesting their conditions, the use of torture and sexual assault against prisoners, the denial of medical care to political prisoners and the kidnapping of regime critics abroad.”

The US Treasury Department said that Hamis Khorramdel, Mustafa Bazvand, Ali Malek-Shahkoui and Saeed Beheshti-Rad of the IRGC have been hit with sanctions over “the Iranian regime's brutal crackdown on peaceful protests”.

Ali Abdi, Alireza Babaei Farsani, Ahmad Reza Azadeh and Gholamreza Roshan were also issued with sanctions for their roles in alleged human rights abuses in Iran's prison system.

“Our sanctions actions are just one of the many ways the United States supports the human rights of the Iranian people,” Mr Miller said.

Thousands protested against the government in Iran in 2022 after the death in morality police custody of Mahsa Amini, 22, who was detained for wearing her hijab “inappropriately”. The protest movement led to mass arrests, long prison sentences and even cases of capital punishment.

Members of Ms Amini's family, including her father, uncle and family lawyer, have been called in for questioning by Iranian authorities as part of its crackdown on protests.

The US says Iran engaged in “brutal suppression, including murder, torture, sexual violence” in response to the anti-government demonstrations.

The international community has been trying to maintain pressure on Iran for its actions during the protests. A group of countries at the UN this year pushed to renew a UN special rapporteur fact-finding mission for possible legal action against Tehran.

The sanctions also take aim at people engaged in malign activities abroad. The Treasury Department said that Yahya Hosseini Panjaki, Javad Ghaffarhaddadi, Hamid Zareikajosangi and Mahmud Baghlani had sanctions imposed for plotting of operations outside of Iran.

There were reportedly several failed plots to kidnap Iranian journalist and regime critic Masih Alinejad in New York City and take her back to Tehran. She has been vocal about women's rights in her home country and its suppression of protests.

Australia and Canada also filed sanctions against some Iranians. On Monday, Australia issued sanctions against five Iranian security and law enforcement officials.

And Canada on Wednesday imposed sanctions on five Iranians close to the former presidential leadership and in law enforcement for being “responsible for the design and implementation of repressive policies, including the violent repression of protesters”, a statement said.

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

Brief scores:

​​​​​​Toss: Pakhtunkhwa Zalmi, chose to field

​Environment Agency: 193-3 (20 ov)
Ikhlaq 76 not out, Khaliya 58, Ahsan 55

Pakhtunkhwa Zalmi: 194-2 (18.3 ov)
Afridi 95 not out, Sajid 55, Rizwan 36 not out

Result: Pakhtunkhwa won by 8 wickets

The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 258hp from 5,000-6,500rpm

Torque: 400Nm from 1,550-4,000rpm

Transmission: Eight-speed auto

Fuel consumption: 6.1L/100km

Price: from Dh362,500

On sale: now

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

The specs
Engine: 2.4-litre 4-cylinder

Transmission: CVT auto

Power: 181bhp

Torque: 244Nm

Price: Dh122,900 

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Switch%20Foods%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Edward%20Hamod%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Plant-based%20meat%20production%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2034%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%246.5%20million%3Cbr%3E%3Cstrong%3EFunding%20round%3A%3C%2Fstrong%3E%20Seed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Based%20in%20US%20and%20across%20Middle%20East%3C%2Fp%3E%0A
UAE%20SQUAD
%3Cp%3E%0D%3Cstrong%3EMen%3A%3C%2Fstrong%3E%20Saif%20Al%20Zaabi%2C%20Salem%20Al%20Marzooqi%2C%20Zayed%20Al%20Ansaari%2C%20Saud%20Abdulaziz%20Rahmatalla%2C%20Adel%20Shanbih%2C%20Ahmed%20Khamis%20Al%20Blooshi%2C%20Abdalla%20Al%20Naqbi%2C%20Khaled%20Al%20Hammadi%2C%20Mohammed%20Khamis%20Khalaf%2C%20Mohammad%20Fahad%2C%20Abdulla%20Al%20Arimi.%0D%3Cbr%3E%3Cstrong%3EWomen%3A%3C%2Fstrong%3E%20Mozah%20Al%20Zeyoudi%2C%20Haifa%20Al%20Naqbi%2C%20Ayesha%20Al%20Mutaiwei.%3C%2Fp%3E%0A
Updated: September 18, 2024, 7:15 PM