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US Treasury Designates Entities, Individuals Involved in Iranian Drone, Missile Production

US Treasury Designates Entities, Individuals Involved in Iranian Drone, Missile Production

The Department of the Treasury’s Office of Foreign Assets Control has designated 16 individuals and several entities for enabling Iran’s production of unmanned aerial vehicles and ballistic missiles used in a weekend attack against Israel.

Companies and individuals subject to assets and trade restrictions include Oje Parvaz Mado Nafar Co. and its CEO Mohammad Sadegh Abutalebi, UAS service provider Aseman Pishraneh and Managing Director Ali Habibi Najafi, and three subsidiaries of Iranian automaker Bahman Group.

According to OFAC, the actors provided financial, material, or technological support for the Islamic Revolutionary Guard Corps-Qods Force, the IRGC-QF’s UAV production arm Kimia Part Sivan, the Ministry of Defense and Armed Forces Logistics, and other Iranian drone and UAV engine manufacturers.

The United Kingdom announced a similar action, imposing sanctions against those participating in Tehran’s UAV and missile production.

The restrictive measures follow calls from Israeli Foreign Minister Israel Katz urging 32 countries to impose additional sanctions on Iran’s missile program and declare the Islamic Revolutionary Guard Corps as a terrorist organization.

British Prime Minister Rishi Sunak previously said the Group of Seven major democracies were working on a sanctions package against Iran. 

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