US sanctions Tehran's ballistic missile program

The United States on Wednesday imposed sanctions on an Iran-based man and his network of companies it accused of helping Tehran obtain materials for its ballistic missile program.

Iranian procurement agent Mohammad Ali Hosseini has utilized a network of companies, including Iran-based Jestar Sanat Delijan and Sina Composite Delijan Company, to procure ballistic missile propellant and related materials in support of Iran’s missile program.

As a result of US Treasury’s action, all property and interests in property of these targets that are in the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC.

In addition, any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked.

In addition, persons that engage in certain transactions with the individuals and entities designated yesterday may themselves be exposed to sanctions or subject to an enforcement action.

Furthermore, unless an exception applies, any foreign financial institution that knowingly facilitates a significant transaction for any of the individuals or entities designated could be subject to U.S. sanctions.

The US Treasury Department said the sanctions were in response to a series of attacks this month by Iran and its proxies – in particular, a missile strike on Erbil in northern Iraq.

A Houthi missile attack on a Saudi Aramco depot last week and other strikes by Iranian proxies against Saudi Arabia and the UAE also informed the American decision.