US Treasury Sanctions more Iranian Entities

The United States’ Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned five Iran-based entities subordinate to a key element of Iran’s ballistic missile program.

Shahid Kharrazi Industries, Shahid Sanikhani Industries, Shahid Moghaddam Industries, Shahid Eslami Research Center, and Shahid Shustari Industries are being designated pursuant to Executive Order (E.O.) 13382 for being owned or controlled by Iran’s Shahid Bakeri Industrial Group (SBIG).

Treasury Secretary Steven T. Mnuchin (pictured) said:

These sanctions target key entities involved in Iran’s ballistic missile program, which the Iranian regime prioritizes over the economic well-being of the Iranian people.  As the Iranian people suffer, their government and the IRGC fund foreign militants, terrorist groups, and human rights abuses. 

“The United States will continue to decisively counter the Iranian regime’s malign activity, including additional sanctions targeting human rights abuses.  We will not hesitate to call out the regime’s economic mismanagement, and diversion of significant resources to fund threatening missile systems at the expense of its citizenry.

SBIG, which is responsible for the development and production of Iran’s solid-propellant ballistic missiles, is listed in the Annex to E.O. 13382 and is currently sanctioned by the U.S., UN, and EU.

  • Shahid Kharrazi Industries is subordinate to SBIG and is responsible for the development and production of guidance and control systems for solid-propellant ballistic missiles.
  • Shahid Sanikhani Industries is subordinate to SBIG and is responsible for casting and curing solid-propellant for Iran’s solid-propellant ballistic missiles.
  • Shahid Moghaddam Industries is subordinate to SBIG and is responsible for the development and production of solid-propellant missile motor cases, ballistic missile launchers, and ground support equipment.
  • Shahid Eslami Research Center is subordinate to, and serves as the research and development organization within, SBIG.
  • Shahid Shustari Industries is subordinate to, and likely was created for the development of fiber materials for, SBIG.

As a result of this action, all property and interests in property of those designated today subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. I

n addition, foreign financial institutions that knowingly facilitate significant transactions for, or persons that provide material or certain other support to, the entities designated today risk exposure to sanctions that could sever their access to the U.S. financial system or block their property and interests in property under U.S. jurisdiction.

For identifying information on the entities designated today, click here.

(Source: OFAC)

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