Copyright © 2024

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

US imposes sanctions on key procurement network supporting Iran’s missile and UAV programs

The US sanctions target four entities based in Iran and Hong Kong, designated for facilitating supplies to sanctioned Iranian military organizations.
Shahed 136
Iranian-made Shahed-136 one-way attack drone. Photo: Sobhan Farajvan
US imposes sanctions on key procurement network supporting Iran’s missile and UAV programs

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on a critical procurement network instrumental in supplying materials and sensitive technology for Iran’s ballistic missile and Unmanned Aerial Vehicle (UAV) programs, including the Shahed-series UAVs produced by Iran’s Shahed Aviation Industries Research Center (SAIRC).

Since September 2022, Russia has actively used Iranian-made Shahed drones to attack Ukraine’s energy and civilian infrastructure. In recent months, Russian forces have launched several to several dozens of drones daily across various oblasts of Ukraine, with most of them targeting civilian facilities.

The sanctions target four entities based in Iran and Hong Kong, identified as covert procurement agents for Hamed Dehghan and Pishtazan Kavosh Gostar Boshra (PKGB), both previously designated by OFAC. These entities have supported various Iranian military organizations, notably the Islamic Revolutionary Guard Corps (IRGC).

“We will not hesitate to leverage our full suite of tools to disrupt the illicit procurement networks that supply the components for these weapons systems, as well as hold accountable those who seek to export these weapons to terrorist proxy groups,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson.

The sanctions reveal the complex network involving Hong Kong-based front companies like FY International Trading Co., Limited (FYIT), which has engaged in significant transactions benefiting the IRGC-Qods Force (IRGC-QF). FYIT, alongside Duling Technology HK Limited and Advantage Trading Co., Limited, has facilitated the procurement of millions of dollars worth of UAV engines, Western-origin carburetors, and other critical components for Iran’s UAV programs.

The sanctions also shed light on the IRGC-QF’s use of front companies, like the China Oil and Petroleum Company Limited (COPC), to sell Iranian commodities to entities in the People’s Republic of China (PRC), masking the origin of these commodities to evade international sanctions.

In December 2023, the European Union announced restrictive measures targeting six individuals and five entities associated with Iran’s UAV program.

Read also:

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here

    Will the West continue to support Ukraine?
    • Know what moves the world.
    • Stay informed with Kompreno.
    • Get quality journalism from across Europe.
    Special discount
    for Euromaidan Press readers
    Euromaidan Press

    We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!

    Related Posts