• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 13 hours Could Someone Give Me Insights on the Future of Renewable Energy?
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 2 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 2 days Bankruptcy in the Industry
  • 3 days The United States produced more crude oil than any nation, at any time.
Oil Price Volatility Soars Amid Geopolitical Uncertainty

Oil Price Volatility Soars Amid Geopolitical Uncertainty

Oil price volatility has climbed…

Global Climate Goals Still Unreachable Despite Record Renewable Growth

Global Climate Goals Still Unreachable Despite Record Renewable Growth

Renewable energy installations reached record…

U.S. Imposes Sanctions On Firms Linked To Iranian Drone Supply Chain

The United States levied fresh sanctions on Iranian firms and individuals for procuring materials utilized in creating drones. 

Several individuals and entities from Iran and Turkey were designated by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), with the coordination of the FBI, for allegedly buying equipment intended for Iran's drone and weaponry programs. 

Those blacklisted in this new round of sanctions include Farazan Industrial Engineering, a procurement firm of Iran-based Defense Technology and Science Research Center (DTSCR), and two other firms plus their purchasing agents.

The procurement network of DTSCR, which operates on behalf of the Ministry of Defense and Armed Forces Logistics of Iran (MODAFL), was also blacklisted. The MODAFL oversees various companies engaged in ballistic missile development and drone. 

According to Undersecretary for Terrorism and Financial Intelligence Brian Nelson, "Iran's well-documented proliferation of [drones] and conventional weapons to its proxies continues to undermine both regional security and global stability."

U.S. defense officials said Iran is delivering UAVs to Russia, which were utilized on civil infrastructure and civilians in Ukraine as the Kremlin presses their invasion. OFAC previously designated several firms, including China, under Iranian drone procurement efforts and executives from manufacturers of Iranian UAVs, since September 2022.

OFAC named three individuals, including procurement agents Amanallah Paidar and Murat Bukey, who backed Paidar and his DTSRC-associated procurement, along with Asghar Mahmoudi, who supplied marine electronics and other components to Paidar and DTSCR. 

Bukey allegedly tried to supply Paidar and Farazan Industrial Engineering with European-origin engines with drone and surface-to-air missile applications, stated OFAC. 

In addition, Bukey sold more than $1 million worth of European-origin drone engines and associated components to companies that possibly shipped those items to Iran.

The sanctions restrict any assets held in U.S. jurisdiction by entities and individuals. 

ADVERTISEMENT

According to the Treasury Department, individuals in the United States who engage in dealings with those connected to the designated entities and individuals could also be subject to sanctions.

By Michael Kern for Oilprice.com 

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News