US Treasury sanctions individuals and entities linked to Iran's missile and drone program

Shafaq News/ The US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned five individuals and seven entities based in Iran, China, and Hong Kong.

These targets have been involved in facilitating procurements for subordinates of Iran's Ministry of Defense and Armed Forces Logistics (MODAFL).

The designated individuals and entities are implicated in acquiring various components, such as accelerometers and gyroscopes, which are crucial for Iran's ballistic missile and unmanned aerial vehicle (UAV) programs.

"Iran's reckless proliferation of its ballistic missiles and UAVs risks further instability and endangers civilian lives, both in the region and around the world. Today's action exposes additional key front companies and trusted agents through which Iran has sought to acquire these components," said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. "The United States will continue to impose costs on those that facilitate Iran's ability to produce these deadly weapons."

The Treasury's statement added, "Today's action was taken pursuant to Executive Order (EO) 13382, which targets proliferators of weapons of mass destruction (WMD) and their means of delivery. The US Department of State designated MODAFL pursuant to EO 13382 on October 25, 2007 in connection with Iran's ballistic missile program."

This move follows similar sanctions imposed by the United States and the European Union in late May on entities associated with Iran's drone industry.

Notably, Iran is one of the world's leading manufacturers of unmanned aerial vehicles (UAVs). It is accused by Western powers of supplying thousands of drones to Russia for its war against Ukraine, as well as to regional allies, including the Houthis, Hezbollah, and Iraqi militants.