US slaps sanctions on Iran entities after rocket launch

The Treasury department said space launch vehicles use technologies that are closely related to those of an intercontinental ballistic missile and this launch represents a threatening step by Iran.

Published: 29th July 2017 09:27 AM  |   Last Updated: 29th July 2017 09:27 AM   |  A+A-

The administration of US President Donald Trump said it was imposing new economic sanctions against Iran over the Islamic Republic's ballistic missile programme. (File | Reuters)


WASHINGTON: The US today imposed new sanctions on six Iran-based entities, targeting the country's ballistic missile programme, a day after Tehran launched a satellite-carrying rocket into space.

The sanctions have been slapped against Shahid Karimi Industries, Shahid Rastegar Industries, Shahid Cheraghi Industries, Shahid Varamini Industries, Shahid Kalhor Industries and Amir Al Mo'Menin Industries -- the subordinates of Shahid Hemmat Industrial Group (SHIG), an entity which the US says is central to Iran's ballistic missile programme.

Such a move by the Department of Treasury comes a day after Iran carried out launch of the Simorgh space launch vehicle. The test, however, was not successful.

Treasury said space launch vehicles use technologies that are closely related to those of an intercontinental ballistic missile and this launch represents a threatening step by Iran.

"The US government will continue to aggressively counter Iran's ballistic missile-related activity, whether it be a provocative space launch, its development of threatening ballistic missile systems, or likely support to Yemeni Houthi missile attacks on Saudi Arabia such as occurred this past weekend.

"These sanctions target key entities involved in Iran's ballistic missile program, and underscore the US' deep concerns with Iran's continued development and testing of ballistic missiles and other provocative behaviour," said Treasury Secretary Steven T Mnuchin.

As a result of this action, all property and interests in property of those designated today subject to US jurisdiction are blocked, and US persons are generally prohibited from engaging in transactions with them.

In addition, foreign financial institutions that facilitate significant transactions for, or persons that provide material or certain other support to, the entities designated today risk exposure to sanctions that could sever their access to the US financial system or block their property and interests in property under the US jurisdiction.


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