On October 27th, the Treasury Department announced the designation of 37 front companies based in Germany, Malta, and Cyprus and five Iranian individuals for being owned or controlled by, or acting for or on behalf of, the Islamic Republic of Iran Shipping Lines and its affiliates. IRISL's network of shipping and holding companies and executives advance Iran's illicit weapons of mass destruction program and carry military cargoes. The designations freeze any assets the designees have under U.S. jurisdiction and prohibit U.S. persons from engaging in any transactions with them. Treasury Department Press Release.