US Treasury Sanctions Procurement Network Supplying Iranian Military Firm

  • Our Bureau
  • 07:41 AM, November 11, 2020
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US Treasury Sanctions Procurement Network Supplying Iranian Military Firm

The U.S. Department of the Treasury today imposed sanctions on six companies and four people, for allegedly supplying sensitive goods to an Iranian military firm in the Trump administration’s latest move to increase pressure on Tehran.

The Office of Foreign Assets Control (OFAC) designated a network of six companies and four individuals that facilitated the procurement of sensitive goods, including U.S.-origin electronic components, for Iran Communication Industries (ICI), an Iranian military firm designated by the United States in 2008 and by the European Union in 2010 for being owned or controlled by Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), the overall manager and coordinator of Iran’s ballistic missile program. ICI, a subsidiary of Iran Electronics Industries, which falls under MODAFL, produces various items including military communication systems, avionics, information technology, electronic warfare, and missile launchers.

“The Iranian regime utilizes a global network of companies to advance its destabilizing military capabilities,” said Secretary Steven T. Mnuchin. “The United States will continue to take action against those who help to support the regime’s militarization and proliferation efforts.

The action was under an authority that imposes sanctions on weapons of mass destruction (WMD) proliferators and their supporters, freezes any U.S. assets of those blacklisted and generally bars Americans from dealing with them.

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The move blacklisted Iran-based Hoda Trading (for seeking U.S.-origin electronic components from China for military communications); Hong Kong-based Proma Industry Co., Ltd. (for shipping equipment to Hoda); DES International Co., Ltd.; Brunei-based Soltech Industry Co., Ltd.; China-based Naz Technology Co., Ltd.; and Iran-based Artin San’at Tabaan Company, as well as several individuals.

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