US Imposes Sanctions on 5 Additional Entities Linked to Iran’s Ballistic Missile Program

The Office of Foreign Assets Control at the U.S. Department of the Treasury announced on Thursday that it has sanctioned 5 Iranian entities due to their connection to a key component of Iran’s ballistic missile program.

According to the department’s statement, Shahid Kharazi Industries, Shahid Sanie Khani Industries, Shahid Moghaddas Industries, Shahid Shushtar Industries, and Shahid Islami Research Center are the five newly sanctioned entities.

Since these entities are owned or managed by the “Shahid Bakeri Industrial Group,” they have been added to the list of sanctions related to Iran’s missile program under Executive Order 13382.

The Bakeri Industrial Group is responsible for developing the ballistic missile program and producing solid-fuel missiles and has previously been listed among U.S., UN, and European Union sanctions.

According to the U.S. Treasury Secretary, “These sanctions target key entities involved in Iran’s ballistic missile program, which the regime prioritizes over the economic welfare of its own people.”

Steven Mnuchin stated in the statement: “While the Iranian people suffer, the Iranian government and Islamic Revolutionary Guard Corps finance foreign fighters, terrorist groups, and human rights violators.”

The U.S. Treasury Secretary emphasized: “We have no hesitation in stating the regime’s economic mismanagement and its diversion of resources from its own citizens’ pockets to finance threatening missile systems.”

The U.S. Department of the Treasury stated that as a result of today’s action, all assets and interests of these entities will be blocked, and U.S. citizens are prohibited from any transactions or cooperation with them.

Foreign financial institutions that knowingly facilitate financial and commercial transactions for these entities or support individuals connected to them will face the risk of sanctions and disconnection from U.S. financial centers.

Source: Voice of America