Treasury Department sanctions five entities linked to Iran’s ballistic missile program

Five businesses tied to Shahid Bakeri Industrial Group (SBIG), which plays a key role in Iran’s ballistic missile program, were sanctioned last week by the Treasury Department’s Office of Foreign Assets Control (OFAC).

The five businesses — Shahid Kharrazi Industries, Shahid Sanikhani Industries, Shahid Moghaddam Industries, Shahid Eslami Research Center, and Shahid Shustari Industries — were sanctioned under Executive Order 13382 for being owned or controlled by SBIG.

“These sanctions target key entities involved in Iran’s ballistic missile program, which the Iranian regime prioritizes over the economic well-being of the Iranian people,” Treasury Secretary Steven Mnuchin said. “As the Iranian people suffer, their government and the IRGC fund foreign militants, terrorist groups, and human rights abuses.”

SBIG develops and produces solid propellant ballistic weapons. Because of their ties to SBIG and Iran’s ballistic missile program, the five sanctioned entities will be blocked from operating in U.S. jurisdiction, and U.S. citizens are prohibited from doing business with them.

“The United States will continue to decisively counter the Iranian regime’s malign activity, including additional sanctions targeting human rights abuses,” Mnuchin said. “We will not hesitate to call out the regime’s economic mismanagement, and diversion of significant resources to fund threatening missile systems at the expense of its citizenry.”