Treasury sanctions several with ties to Iranian missile program
by Simon Druker
Washington DC (UPI) Jun 6, 2023
The Treasury Department on Tuesday sanctioned seven people and six entities over their ties to Iran's ballistic missile program.

The sanctions are through the department's Office of Foreign Assets Control, while those being sanctioned are from Iran, China and Hong Kong.

U.S. officials contend the individuals and businesses being sanctioned were part of a network handling financial transactions that helped Iran acquire "sensitive and critical parts and technology" for use in the country's ballistic missile development program.

Sanctions apply to Iranian military units as well as state-owned businesses and front companies, including Parchin Chemicals Industries and P.B. Sadr. One of the primary functions of both is to secure centrifuges in order to produce nitrocellulose, a raw material fused to make propellants and combustible components. The OFAC designated PCI in March, adding it to the list of sanctioned entities and individuals.

Davoud Damghani, Iran's Defense Attaché in Beijing helped facilitate some of the acquisitions and was added to the sanctions list Tuesday.

Tuesday's sanctions the same day Iran said its missile program had taken a major leap forward.

Iran's Islamic Revolutionary Guard Corps unveiled the country's first hypersonic missile in Tehran, which is designed to penetrate all defense shield systems and destroy anti-missile systems.

American military officials have warned that hypersonic weapons cannot be detected and tracked by existing sensor systems.

Sanctions equate to all property owned or majority controlled by the entities or individuals being seized or otherwise blocked by the OFAC.

"Today's action reinforces our commitment to respond to activities which undermine regional stability and threaten the security of our key partners and allies," Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson said in a statement.

"The United States will continue to target illicit transnational procurement networks that covertly support Iran's ballistic missile production and other military programs."

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