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New round of US sanctions targets Iranian drone industry

New round of US sanctions targets Iranian drone industry
posted onMarch 22, 2023

The United States has announced its latest round of sanctions against Iranian drone and missile production, this time focusing on firms and individuals who allegedly procured equipment for Tehran’s drone programme.

In a statement on Tuesday, the US Department of the Treasury said the targeted “procurement network” operates on behalf of Iran’s Ministry of Defence and Armed Forces Logistics (MODAFL), which oversees firms involved in developing unmanned aerial vehicles (UAVs) and ballistic missiles.

The latest sanctions came as Iran has been accused of supplying Russia with drones for its invasion of Ukraine, which began on February 24, 2022.

The European Union has also targeted Iran’s drone industry with sanctions.

“Iran’s well-documented proliferation of UAVs and conventional weapons to its proxies continues to undermine both regional security and global stability,” Brian Nelson, the undersecretary for terrorism and financial intelligence at the US Treasury, said in a statement.

“The United States will continue to expose foreign procurement networks in any jurisdiction that supports Iran’s military industrial complex.”

Those named in Tuesday’s sanctions include the Iran-based Defense Technology and Science Research Center, its procurement firm Farazan Industrial Engineering Inc and two other firms, along with purchasing agents from the companies.

As a result of the sanctions, the targeted entities will be denied access to any US property or financial assets held in the country. US companies will also be prevented from doing business with those identified.