US sanctions 10 over allegedly procuring weapons for Iran
- On Tuesday, Treasury Secretary Scott Bessent announced sanctions on ten entities in Iran, Hong Kong, and Pakistan, targeting alleged weapon procurement for the Iranian defense ministry.
- These sanctions are part of the 'Operation Economic Outcast' campaign, which aims at severing 'critical financial lifelines' for the Iranian government amid its seven-month war.
- Treasury Department officials aim to increase costs for those assisting Iran's military procurement, seeking to disrupt defense systems and degrade the government's ability to reconstitute weapons.
- Iran's currency fell to a record low on Tuesday, with traders in Tehran exchanging more than 2.5 million rials to the dollar, down from 2.2 million on Sept 2.
- This year's naval blockade and ongoing economic warfare have sent the Iranian economy into freefall as diplomacy between the two countries remains uncertain.
133 Articles
133 Articles
Saudi Gazette
AlKhaleej TodayUS sanctions 13 individuals and entities tied to Iran's weapons procurement
The United States announced fresh sanctions on Tuesday against 13 individuals and entities, including some based in Russia, China, Hong Kong and Pakistan, saying they helped Iran procure weapons and components.
Washington is increasing economic pressure on Iran and imposing new sanctions on Tehran's backers. The assets of ten individuals and entities in the United States will be frozen and transactions with sanctioned companies will be prohibited, the US Treasury Department said. The sanctioned individuals and companies are located in China, Hong Kong, Pakistan, Saudi Arabia and Turkey.
The United States imposed sanctions on September 29 against individuals and entities involved in Iranian arms purchases, including two Russian companies, the Kyiv Independent reported.
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