Connect with us

Hi, what are you looking for?

Economy

US imposes new round of sanctions on network involved in Iran’s drone production

The United States on Tuesday imposed a new round of sanctions against 10 entities and four individuals for their involvement in procuring materials for the production of drones in Iran. 

The sanctions target a network spanning Iran, Malaysia, Hong Kong, and Indonesia led by Hossein Hatefi Ardakani, according to the U.S. State and Treasury Department. Ardakani and Gary Lam, who worked for a Chinese company, and their co-conspirators were named as defendants in a Justice Department press release. 

The U.S. said these individuals and entities were involved in the procurement of sensitive goods, including U.S.-origin electronic components, for one-way attack drones produced by the Islamic Revolutionary Guard Corps Aerospace Force Self Sufficiency Jihad Organization and its drone program.

A multi-year investigation by Homeland Security Investigations (HSI) identified a network of Iranian intermediary companies, front companies, and logistics businesses used to procure and facilitate the transfer of sensitive U.S. and foreign-origin technology for its weapons program. 

‘Iran’s illicit production and proliferation of its deadly UAVs (unmanned aerial vehicles) to its terrorist proxies in the Middle East and to Russia continues to exacerbate tensions and prolong conflicts, undermining stability,’ Under Secretary for Terrorism and Financial Intelligence Brian Nelson said in a statement.

Washington has long accused Tehran of supplying such weapons to Russia for use in Ukraine. Iran denies providing Russia with drones for use in the country.

Reuters contributed to this report.

This post appeared first on FOX NEWS

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Kim Jong Un attended a “paramilitary parade” with his daughter to mark the 75th anniversary of North Korea’s founding on Saturday, the country’s state...

    Stock

    Target said Tuesday that it will close nine stores in major cities across the country, citing violence, theft and organized retail crime. The company will...

    Economy

    A U.S. District Court judge Thursday blocked implementation of a new Idaho law that would prevent transgender students from using restrooms, locker rooms and...

    Stock

    The Consumer Price Index hit 3.2% in July, compared with 3% in June, the Bureau of Labor Statistics reported Thursday. Once again, food prices...

    Disclaimer: aimyourdeals.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2023 aimyourdeals.com