U.S. Imposes Sanctions Over Iran's Missile Development

Jan 9, 2018

The United States Department of Treasury has imposed sanctions on five entities linked to Iran's ballistic missile program. The announcement was made January 4 as anti-Iranian government demonstrations, which started in December over economic grievances but broadened to include wide-ranging political and cultural frustrations, continued.

In a statement, Treasury Secretary Steven Mnuchin said, “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 [Islamic Revolutionary Guard Corps] fund foreign militants, terrorist groups, and human rights abuses.”

The five Iran-based entities sanctioned by the United States are involved in the production of guidance and control systems for solid-propellant ballistic missiles; the production of their motor cases, launchers and ground support equipment; and research and development for the ballistic missile program.

US Exposing Iran
US Exposing Iran

As a result of the sanctions, all property and interest in property of the designated entities subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. In addition, foreign financial institutions that knowingly facilitate significant transactions for these entities, or persons that provide material support to them, risk being blocked from the U.S. financial system.

Treasury Secretary Mnuchin said, “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.”