US Imposes New Sanctions on Iran-Linked Network

Washington D.C. US President Donald Trump has continued his campaign of economic pressure on Tehran, even as he announces an extension of the ceasefire period with Iran. The Office of Foreign Assets Control (OFAC) under the Department of the Treasury announced in a statement that sanctions have been imposed on 14 individuals, entities, and aircraft based in Iran, Turkey, and the United Arab Emirates (UAE).

They are accused of being involved in the procurement and shipment of weapons or weapon components on behalf of the Iranian government. Under these sanctions, the assets and interests of these individuals or entities within the United States will be frozen, and reporting of such assets is mandatory. Furthermore, US citizens, non-citizens within the US, or individuals in transit are prohibited from engaging in any financial transactions with these entities or individuals.

According to the US government, these networks were assisting Iran in rebuilding its drone and ballistic missile manufacturing capabilities. These capabilities were weakened by attacks carried out by the US and Israel under Operation Epic Fury. The objective of Operation Epic Fury is to deny Iran access to international financial markets and create pressure for Tehran to reach an agreement acceptable to Washington.