The US Treasury Department has imposed sanctions on 10 individuals and companies on charges that they support Iran's efforts to provide weapons and raw materials needed to build its "Shahed" drones and ballistic missiles. This was reported by Reuters.
The Ministry's move comes days before US President Donald Trump travels to China for a meeting with President Xi Jinping. Efforts to end the war with Iran are at a standstill.
The agency indicates that it is ready to take economic action against Iran's military-industrial base to prevent Tehran from restoring its production capacity. The Treasury Department is also prepared to take action against any foreign company supporting illicit Iranian trade, including airlines, and may impose secondary sanctions on foreign financial institutions that support Iran's efforts, including those linked to China's independent "kettle" oil refineries.
The Treasury Department's actions are aimed at limiting Iran's ability to threaten ships operating in the Strait of Hormuz and U.S. allies in the region.
Iran is a major producer of drones and has the industrial capacity to produce about 10,000 per month, according to the British government fund Center for Information Resilience.
The companies sanctioned are:
- China-based Yushita Shanghai International Trade Co Ltd for facilitating efforts to acquire weapons from China for Iran.
- Dubai-based Elite Energy FZCO for transferring millions of dollars to a Hong Kong company to aid procurement efforts.
- Hong Kong-based HK Hesin Industry Co Ltd and Belarus-based Armory Alliance LLC for acting as procurement intermediaries.
- Hong Kong-based Mustad Ltd for facilitating the procurement of weapons by Iran's Islamic Revolutionary Guard Corps.
- Iran-based Pishgam Electronic Safeh Co for supplying engines used in drones.
- China-based Hitex Insulation Ningbo Co Ltd for supplying materials used in ballistic missiles.