The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has targeted 32 individuals and entities based in Iran, the United Arab Emirates (UAE), Turkiye, China, Hong Kong, India, Germany, and Ukraine that operate multiple procurement networks that support Iranian ballistic missile and unmanned aerial vehicle (UAV) production.
“Today’s actions are taken in furtherance of National Security Presidential Memorandum 2, which directs the U.S. government to reduce Iran’s ballistic missile program and counter Iran’s development of other asymmetric conventional weapons,” the Treasury Department said in a statement on its website.
Despite the Trump administration’s escalating hostilities against Iran’s economy, Tanker Trackers recently announced that Iran’s crude oil exports to China have hit a record high, proving that Iran has been able to escape the impact of sanctions.
MNA