US Targets Transnational Procurement Network Supporting Iran's Ballistic Missile and UAV Programs with Fresh Sanctions
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned a procurement network supplying materials and sensitive technology for Iran's ballistic missile and Unmanned Aerial Vehicle (UAV) programs, including a Hong Kong-based front company involved in the sale of Iranian commodities for the benefit of the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). The action, taken pursuant to Executive Order (E.O.) 13382, targets proliferators of weapons of mass destruction and their means of delivery, and aims to disrupt illicit procurement networks and hold accountable those exporting weapons to terrorist proxy groups. All property and interests in property of the designated entities in the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC, with potential sanctions for those engaging in certain transactions with the designated entities.