&imwidth=800&imheight=600&format=webp&quality=medium "US sanctions 10 individuals, companies across 5 countries over Iran missile and drone program")
US have sanctioned 10 individuals and companies across five countries on Friday, May 8. It accused them of supporting Iran’s ballistic missile and unmanned aerial vehicle (UAV) program. Sanctions hit entities in China, Hong Kong, Dubai (UAE), Belarus, and Iran. These entities allegedly help Iran in procuring weapons components and aerospace-grade raw materials for the Shahed-series drones and Iran’s ballistic missile programs.
“While the surviving IRGC leaders are trapped like rats in a sinking ship, the Treasury Department is unrelenting in our Economic Fury campaign,” said Secretary of the Treasury Scott Bessent. “Under President Trump’s decisive leadership, we will continue to act to keep America Safe and target foreign individuals and companies providing Iran’s military with weapons for use against U.S. forces.”
Also Read: Trump warns of ‘Project Freedom Plus’ if Iran talks fail amid escalating Strait of Hormuz crisis
Who are the sanctioned entities?
According to the statement released by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), sanctioned entities include China-based Yushita Shanghai International Trade Co Ltd, Dubai-based Elite Energy FZCO (Elite Energy), Hong Kong-based AE International Trade Co Limited (AE International), Hong Kong-based HK Hesin Industry Co Limited (HK Hesin), Belarus-based Armory Alliance LLC (Armory Alliance), Belarus-based Iranian national Mohammadmahdi Maleki (Maleki), an employee of Armory Alliance, Belarussian national Mohammed Ali Tolibov (Tolibov) the chief executive officer of Armory Alliance, Hong Kong-based Mustad Limited, Iran-based Pishgam Electronic Safeh Company, China-based Hitex Insulation Ningbo Company Limited (Hitex), and Chinese national Li Genping the legal representative of Hitex and manages the company’s sales, purchasing, and financial operations. They are being designated as the ones having allegedly provided, or attempted to provide, financial, material, technological or other support for, or goods or services in support of the Centre for Progress and Development of Iran (CDPI) to purchase weapons, includingman-portable air-defensive systems (MANPADS), UAV and ballistic missile components.
US Economic Fury
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The US Treasury Department said that it continues to exert maximum pressure on Iran and target the nation's ability to generate, move, and repatriate funds. It claimed that their actions have disrupted billions in oil revenue, reduced Tehran's shadow banking networks, and frozen nearly half a billion dollars in cryptocurrency. It has warned that it will take action against Iran’s defence industrial base, any financial institutions that support Iranian commerce, airlines, including those connected to the People’s Republic of China’s independent “teapot” oil refineries.
