The US Treasury Department on Tuesday imposed sanctions on seven individuals and six entities over their ties to Iran’s ballistic missile program (pictured). File Photo courtesy of Iran’s Ministry of Defense | License photo
June 6 (UPI) — The Treasury Department on Tuesday sanctioned seven individuals and six entities over their ties to Iran’s ballistic missile program.
The sanctions are administered through the department’s Office of Foreign Assets Control, and those subject to sanctions are from Iran, China and Hong Kong.
U.S. officials say the individuals and companies under sanctions were part of a network that handled financial transactions that helped Iran acquire “sensitive and critical parts and technology” for use in the country’s ballistic missile program.
The sanctions apply to Iranian military units, as well as state-owned companies and shell companies, including Parchin Chemicals Industries and PB Sadr. One of the main functions of both is to protect centrifuges to produce nitrocellulose, a raw material that is fused to make propellants and flammable components. OFAC’s March designated by the PCI by including him in the list of entities and persons subject to sanctions.
Davoud Damghani, Iran’s defense attaché in Beijing, helped facilitate some of the acquisitions and was placed on the sanctions list on Tuesday.
Tuesday’s sanctions were the same day Iran announced its missile program had made a big jump Forward.
Iran’s Islamic Revolutionary Guard Corps has unveiled the country’s first hypersonic missile in Tehran, which is designed to penetrate all defense shield systems and destroy anti-missile systems.
US military officials have warned that existing sensor systems cannot detect and track hypersonic weapons.
Sanctions are equivalent to all assets owned or majority controlled by entities or individuals that are seized or otherwise blocked by OFAC.
“Today’s actions reinforce our commitment to respond to activities that undermine regional stability and threaten the security of our key partners and allies,” Treasury Under Secretary for Terrorism and Financial Intelligence Brian E. Nelson said in a statement.
“The United States will continue to target illicit international procurement networks that covertly support Iran’s ballistic missile production and other military programs.”