US Treasury adds 6 entities to its anti-Iran sanctions

EghtesadOnline: "Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is targeting six entities based in Hong Kong and the People’s Republic of China (PRC), engaged in the procurement of unmanned aerial vehicle (UAV) components on behalf of OFAC-designated Iranian firm Pishtazan Kavosh Gostar Boshra (PKGB) and its subsidiary Narin Sepehr Mobin Isatis (NSMI)," the US Treasury said in a statement. 

"These entities operate as front companies and facilitate the purchase and shipment of key components for the benefit of PKGB and NSMI, which serve as key suppliers for Iran’s UAV and ballistic missile programs," it added.

"OFAC previously designated a network of Hong Kong-based companies procuring sensitive Western-origin materials and technology for Iran’s UAV and missile programs on behalf of PKGB in February 2024. Today’s action, which supports President Trump’s maximum pressure campaign on Iran, targets efforts by PKGB to reconstitute its procurement network and continue the procurement of critical parts from foreign suppliers post-designation," the statement also said.

“Iran continues to try to find new ways to procure the key components it needs to bolster its UAV weapons program through new front companies and third-country suppliers,” admitted Secretary of the Treasury Scott Bessent. / Mehr