The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated one individual and eight entities, and identified one vessel as blocked property, for involvement in the procurement and transshipment of sensitive machinery for Iran’s defense industry.
The designated or blocked persons’ property and interests in property in the United States, or in the possession or control of U.S. persons, are blocked and must be reported to OFAC. Any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons also are blocked.
“The United States remains resolved to disrupt any effort by Iran to procure the sensitive, dual-use technology, components, and machinery that underpin the regime’s ballistic missile, unmanned aerial vehicle, and asymmetric weapons programs,” Scott Bessent, secretary of the treasury, said. “We have been clear: those who enable these schemes will be held accountable. Treasury will continue to degrade Iran’s ability to produce and proliferate these deadly weapons, which threaten regional stability and global security.”
Violating the sanctions could result in civil or criminal penalties.
Individuals or financial institutions that engage in certain transactions or activities involving designated or otherwise blocked persons are at risk for sanctions.