On June 23rd, the Treasury Department designated two Iranian commercial entities: Tidewater Middle East Co. and Iran Air. Tidewater is a port operating company owned by Iran's Islamic Revolutionary Guard Corps ("IRGC") that has been used by the IRGC for illicit shipments. Iran's national airline carrier, Iran Air, is a commercial airline used by the IRGC and Iran's Ministry of Defense and Armed Forces Logistics to transport military related equipment. The Treasury Department also designated an individual and an entity for their ties to a company that provided support and weapons to Hizballah on behalf of the IRGC. Treasury Department Fact Sheet. See also Joint Geithner and Clinton Statement.