The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated six individuals and 12 entities for their roles in aiding Iran's efforts to manufacture materials crucial for its ballistic missile program. These sanctions are part of a broader strategy under National Security Presidential Memorandum-2, which aims to prevent Iran from developing intercontinental ballistic missiles and disrupt the resources sustaining the Islamic Revolutionary Guard Corps (IRGC).
Secretary of the Treasury Scott Bessent emphasized, "The United States cannot allow Iran to develop intercontinental ballistic missiles. The Iranian regime’s relentless and irresponsible pursuit of advanced ballistic missile capabilities...represents an unacceptable threat to the United States and the stability of the region."
Among those targeted are IRGC sub-organizations involved in producing carbon fiber materials essential for missile manufacturing. Notably, Advanced Fiber Development Company (AFDCO), led by Iranian national Mohammad Rezai, is implicated in supplying carbon fiber and related equipment to support IRGC activities.
Additional designations include several Chinese nationals associated with Shanghai Tanchain New Material Technology Co Ltd for providing critical materials to Iran. Companies like Nantong Tanchen High Performance Materials Co Ltd, Reso Trading Shanghai Co Ltd, and others have also been identified for their involvement.
OFAC's action blocks all property of these individuals and entities within U.S. jurisdiction. Violating these sanctions could lead to civil or criminal penalties under U.S. law. OFAC stresses that sanctions aim not just to penalize but to encourage positive behavioral changes.
For further details on the sanctioned parties or removal procedures from OFAC's lists, additional resources are available through OFAC's official channels.
