US sanctions companies for aiding Iran's missile program

Treasury Dept. slaps restrictions on companies, individuals in 3 countries

US sanctions companies for aiding Iran's missile program

World Bulletin / News Desk

The U.S. sanctioned several foreign companies and individuals for being directly involved with Iran's ballistic missile program, the Treasury Department said Thursday.

Iran-based Shahid Nuri Industries and Shahid Movahed Industries were designated for being subordinates of Shahid Hemmat Industrial Group, an entity the U.S. last year found "responsible for Iran’s liquid-fueled ballistic missile program".

Both groups are blocked from international financial inflow by the U.S., according to a statement.

Also sanctioned were two British businessmen and their entity based in Britain and two others in the United Arab Emirates, which helped Iranian airline Mahan Air's "efforts to circumvent sanctions".

The men, Jeffrey John James Ashfield and John Edward Meadows, along with Aviation Capital Solutions and Aircraft, Avionics, Parts & Support Ltd. were sanctioned due to running businesses that provided support for Mahan Air.

The companies are accused of having "facilitated millions of dollars in financial transactions with companies affiliated with Mahan Air".

U.S.-designated companies based in the UAE, Grandeur General Trading FZE and HSI Trading FZE, were also designated Thursday for financing Mahan Air.

The U.S. alleges that the airlines company transported funds and weapons for Iran's Revolutionary Guards. "Iran’s ballistic missile program and its support for terrorism pose a continuing threat to the region, to the United States, and to our partners worldwide," Acting Under Secretary for Terrorism and Financial Intelligence Adam Szubin said in the statement.

"We will continue to use all of our tools to counteract Iran’s ballistic missile program and support for terrorism, including through sanctions," he added.

Last Mod: 25 Mart 2016, 09:22
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