Source: U.S. Department of the Treasury
Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned five Iran-based entities subordinate to a key element of Iran’s ballistic missile program. Shahid Kharrazi Industries, Shahid Sanikhani Industries, Shahid Moghaddam Industries, Shahid Eslami Research Center, and Shahid Shustari Industries are being designated pursuant to Executive Order (E.O.) 13382 for being owned or controlled by Iran’s Shahid Bakeri Industrial Group (SBIG).
“These sanctions target key entities involved in Iran’s ballistic missile program, which the Iranian regime prioritizes over the economic well-being of the Iranian people. As the Iranian people suffer, their government and the IRGC fund foreign militants, terrorist groups, and human rights abuses,” said Treasury Secretary Steven T. Mnuchin. “The United States will continue to decisively counter the Iranian regime’s malign activity, including additional sanctions targeting human rights abuses. We will not hesitate to call out the regime’s economic mismanagement, and diversion of significant resources to fund threatening missile systems at the expense of its citizenry.”