Feb. 26 (UPI) — The U.S. Treasury Department’s Office of Foreign Assets Control Wednesday sanctioned six Hong Kong companies for allegedly being part of a covert Iranian drone procurement network.
The agency announced sanctions against Dingtai Industrial Technology Co. Limited, Yonghongan Trade Limited, Hong Kong Tianle International Co. Limited, DDC Develop Industry Hong Kong Limited, Shenzhen Zhiyu International Trade Co. Ltd., and JP Oriental International Holdings Limited.
Treasury alleged that the sanctioned companies work on behalf of Iranian firm Pishtazan Kavosh Gostar Boshra.
“Iran continues to try to find new ways to procure the key components it needs to bolster its UAV weapons program through new front companies and third-country suppliers,” said Secretary of the Treasury Scott Bessent in a statement. “Treasury remains committed to disrupting the schemes that enable Iran to send its deadly weapons abroad to its terrorist proxies and other destabilizing actors.”
Treasury said the sanctioned companies “operate as front companies and facilitate the purchase and shipment of key components” of drones for Iranian company Pishtazan Kavosh Gostar Boshra and its subsidiary Narin Sepehr Mobin Isatis.
According to the Treasury Department, Dingtai procured drone components made in the United States for Iran. Yonghongan procured other Western aircraft components and Tianle facilitated price quotes and procurement of U.S.-made electronic components, including micro servos.
Shenzhen Zhiyu allegedly exported production and testing equipment for Iran’s drone network. JP Oriental exported shipments for the network, according to Treasury, as did DDC Develop.
Treasury said the sanctions announced Wednesday targets efforts by the Iranian company Pishtazan Kavosh Gostar Boshra to “reconstitute its procurement network and continue the procurement of critical parts from foreign suppliers.”
