Date: April 18, 2024
Reason for Sanctions: Unprecedented Iranian regime attack on Israel
Imposing Agencies:
- US Department of the Treasury’s Office of Foreign Assets Control (OFAC)
- US Department of Commerce’s Bureau of Industry and Security (BIS)
Targeted Sectors:
- Iran’s UAV (Unmanned Aerial Vehicle) Program:
- Companies producing UAV engines (Mado Company) and servicing UAV engines (Aseman Pishraneh Co. Ltd)
- IRGC-QF (Islamic Revolutionary Guard Corps-Qods Force) Department 8000 (develops and supplies UAVs)
- Kimia Part Sivan Company (KIPAS) (assists IRGC-QF with UAV program)
- Individuals involved in UAV development, testing, supply, and proliferation (11)
- Fateh Aseman Sharjf Company (FASC) (works with IRGC-QF)
- Iran’s Steel Industry:
- Khuzestan Steel Company (KSC) (one of Iran’s largest steel producers)
- Companies facilitating KSC’s steel production and exports (5)
- Bahman Group (Iranian automaker) and its subsidiaries:
- Bahman Diesel Co. (produces vehicles for Iran’s armed forces)
- Iran Docharkh Co. (sells motorcycles to Iranian military entity)
- Iran Chassis Manufacturing Co. (purchases steel from sanctioned company)
Sanctions Implications:
- Assets of designated individuals and entities frozen.
- Transactions involving sanctioned entities and individuals prohibited.
- Potential sanctions for entities engaging with sanctioned parties.
Additional Actions:
- BIS imposing new controls to restrict Iran regime’s access to technologies.
- US to take further actions against Iran’s regime in the coming days and weeks.
Overall Impact:
- Aims to disrupt key aspects of Iran regime’s malign activity, including its UAV program and steel industry revenue.
- Targets financial resources used by Iran’s regime to support terrorism.
Note: The US and UK are coordinating these sanctions, with the UK targeting Iranian regime military organizations and individuals involved in UAV and ballistic missile programs.
