Sanctions were placed on entities linked to the guards corp, which is seen as a key driver of Iran's suspected nuclear weapons program.

Those targeted included guards member Parviz Fattah, a former energy minister, as well as a raft of financial firms.

The Treasury Department also hit Iran's economically vital energy sector, sanctioning the Pars Oil and Gas Company, which is responsible for tapping some of the world's largest gas fields.

The North and South Pars fields are a potential economic lifeline for the sanctions-hit nation, but leaders in Tehran have struggled to finance operations amid sanctions.

The development of the fields has been hampered by a lack of investment and technology as Western firms either have pulled out or delayed their commitments.

Iran, the second largest oil exporter in the Organization of Petroleum Exporting Countries (OPEC) also has the world's second largest natural gas reserves after Russia.

The United Nations, the United States and the European Union recently imposed new punitive measures against Tehran in a bid to stop its sensitive uranium enrichment program which they fear masks a weapons drive.

Tehran denies the charge, saying the program has purely peaceful goals.

The Treasury Department also sanctioned Liner Transport Kish, for "providing material support, including weapons to Hezbollah" on behalf of the guards.

The Islamic Revolutionary Guard Corps and Islamic Republic of Iran Shipping Lines are both "major institutional participants in Iran's illicit conduct and in its attempts to evade sanctions," said US sanctions tzar Stuart Levey.

"We will therefore continue to target and expose their networks," he said.

earlier related report
Ahmadinejad travels to Turkey ahead of nuclear talks
Istanbul (AFP) Dec 21, 2010 - Iranian President Mahmoud Ahmadinejad and his new foreign minister travel to Turkey on Thursday for a regional summit which will focus on upcoming talks on Tehran's suspect nuclear programme.

It will be the first international outing for Iran's new foreign minister Ali Akbar Salehi, the nuclear chief who was promoted following the surprise sacking of Manouchehr Mottaki due to an apparent falling out over nuclear policy.

Ahmadinejad and Salehi are to attend the Istanbul summit of the Economic Cooperation Organisation, which groups Iran and Turkey with Pakistan and Central Asian states.

Iran's nuclear programme will "naturally" be part of the discussions when Salehi meets Turkish counterpart Ahmed Davutoglu, a Turkish diplomat told AFP.

In late January, Istanbul will host a second round of talks on the programme between Iran and the six world powers (United States, France, Britain, Russia, China and Germany) following a session in Geneva earlier this month.

Turkey maintains good relations with neighbouring Iran and has tried to broker a face-saving compromise in its protracted standoff with the West over its nuclear programme.

In May, it joined Brazil in negotiating a nuclear fuel swap deal with Iran but the agreement was rejected by the United States.

The deal raised eyebrows in the West about a possible eastern shift in Turkey's diplomacy and politics.

"We will host this meeting but we are obviously prepared to do more if asked," said Turkish foreign ministry spokesman Selcuk Unal.

The UN Security Council slapped fresh sanctions on Iran in June, and Tehran has repeatedly denied that it is seeking to acquire nuclear weapons.

Upon taking up his new post, Salehi said that strengthening ties with Ankara was a priority for Tehran.

"Turkey is a powerful country, which is strategically positioned and shares common ideological and cultural ground with Iran," said Salehi, who retains his position as chief nuclear negotiator.

Salehi, 61, who was appointed atomic energy chief in July last year, has been a driving force behind Iran's atomic programme, and during his tenure, the country's first nuclear power plant has come on line.

He served as Tehran's representative in the Vienna-based International Atomic Energy Agency during the presidency of the reformist Mohammad Khatami.

Ahead of this month's talks in Geneva, Salehi announced that Iran had produced a first batch of uranium yellowcake, the raw material for enrichment.

Thursday's Istanbul summit, which will be preceeded with a meeting of foreign ministers, is expected to be accompanied by a string of agreements.

The day after the meeting, Turkey will host three-way talks with Pakistan and Afghanistan on security cooperation.

Turkey is the only Muslim member of NATO and has 1,800 troops in Afghanistan as part of the International Security Assistance Force.

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