On 3 February 2017, the US Department of the Treasury‘s Office of Foreign Assets Control (OFAC) sanctioned 25 entities and individuals involved in procuring technology or materials to support Iran’s ballistic missile program or with links to Iran’s Islamic Revolutionary Guard. This step, in and of itself, means that all property of those designated which is subject to US jurisdiction is blocked and US persons are generally prohibited from engaging in transactions with them. Strictly speaking this step will have no impact whatsoever on most people doing business with the Middle East generally and Iran specifically.

US Department of the Treasury

وزارت خزانه‌داری ایالات متحده آمریکا

Office of Foreign Assets Control (OFAC)

دفتر کنترل سرمایه‌های خارجی

Sanction: verb

impose a sanction or penalty on.

“foreigners in France illegally should be sent home, their employers sanctioned and border controls tightened up”

Entity  noun  /ˈentɪti/

an organization or a business that has its own separate legal and financial existence:

“Nearly 90 entities, mainly private companies, mint gold in bars.”

“a commercial/corporate entity”

Procure  verb /prəˈkjʊr/ formal

to get something, especially when it involves effort:

“A small car manufacturer may produce its own engines, but it may also procure them from a larger

in and of itself

considering it alone

 ”The idea in and of itself is not bad, but the side issues introduce many difficulties.”

Her action, in and of itself, caused us no problem.”

Designate  /ˈdez.ɪɡ.neɪt/

to say officially that a place or thing has a particular character or purpose:

“This area of the park has been specially designated for children.”

Jurisdiction   noun  /ˌdʒʊr.ɪsˈdɪk.ʃən/

the authority of a court or official organization to make decisions and judgments :

The court has no jurisdiction in/over cases of this kind.

Whatsoever   adverb /ˌwɑːt.soʊˈev.ɚ/

used after a negative phrase to add emphasis to the idea that is being expressed:

“He has no respect for authority whatsoever.”

“I can honestly say that I have no interest whatsoever in the royal family.”