US Treasury Expands Anti-Iran Sanctions by Targeting 6 New Entities

In a significant move, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken decisive action against six entities located in Hong Kong and the People’s Republic of China (PRC) involved in the procurement of unmanned aerial vehicle (UAV) components. This operation targets companies associated with the OFAC-designated Iranian firm Pishtazan Kavosh Gostar Boshra (PKGB) and its subsidiary Narin Sepehr Mobin Isatis (NSMI).

The OFAC’s recent statement revealed critical details regarding these entities:

• Front Companies: The targeted entities are believed to operate as front companies, facilitating the purchase and shipment of essential components for PKGB and NSMI.
• Support for Military Programs: These firms play a crucial role in supplying Iran’s UAV and ballistic missile programs.
• Previous Designations: In February 2024, OFAC had already designated a network of Hong Kong-based companies for procuring sensitive Western-origin materials and technology for Iran’s military programs.
• Continuation of Procurement Efforts: The current actions aim to disrupt PKGB’s attempts to reconstitute its procurement network and continue acquiring critical parts from foreign suppliers.

Secretary of the Treasury, Scott Bessent, acknowledged the ongoing challenges posed by Iran in acquiring essential components to enhance its UAV weapons program. He stated, “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.”

This development is part of the broader strategy known as President Trump’s maximum pressure campaign against Iran, designed to limit the country’s military capabilities and its ability to acquire critical technologies.

Through these actions, the U.S. government aims to curb the efforts of Iranian entities that seek to circumvent international sanctions and continue their military advancements. The initiatives highlight the necessity for vigilance in monitoring international procurement networks that may contribute to the proliferation of UAV technologies and other military capabilities.

In summary, the U.S. Department of the Treasury’s recent actions serve as a reminder of the complexities involved in combating international procurement networks and the persistent efforts by nations like Iran to enhance their military capabilities despite ongoing sanctions.

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