Treasury Sanctions Key Ballistic Missile Entities in Iran

Treasury Sanctions Key Ballistic Missile Entities in Iran

Action Follows Iran’s Launch of Simorgh Space Launch Vehicle and Continued Provocations

Washington – Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned six Iran-based subordinates of Shahid Hemmat Industrial Group (SHIG), an entity central to Iran’s ballistic missile program, in response to Iran’s continued provocative actions, such as yesterday’s launch of the Simorgh space launch vehicle.  Space launch vehicles use technologies that are closely related to those of an intercontinental ballistic missile and this launch represents a threatening step by Iran.  Shahid Karimi Industries, Shahid Rastegar Industries, Shahid Cheraghi Industries, Shahid Varamini Industries, Shahid Kalhor Industries, and Amir Al Mo’Menin Industries were designated pursuant to the global counter-proliferation Executive Order (E.O.) 13382 for being owned or controlled by SHIG.

“The U.S. Government will continue to aggressively counter Iran’s ballistic missile-related activity, whether it be a provocative space launch, its development of threatening ballistic missile systems, or likely support to Yemeni Houthi missile attacks on Saudi Arabia such as occurred this past weekend,” said Treasury Secretary Steven T. Mnuchin.  “These sanctions target key entities involved in Iran’s ballistic missile program, and underscore the United States’ deep concerns with Iran’s continued development and testing of ballistic missiles and other provocative behavior.”

SHIG, which is responsible for the development and production of Iran’s liquid propellant ballistic missiles, is listed in the Annex to E.O. 13382 and is currently sanctioned by the United Nations and the European Union.  Each of the entities sanctioned today is a subordinate of SHIG.

  • Shahid Karimi Industries is responsible for the production of missile structural components and may also be involved in manufacturing missile airframes.
  • Shahid Rastegar Industries is responsible for the development and production of liquid-propellant ballistic missile engines.
  • Shahid Cheraghi Industries is responsible for the development and manufacturing of liquid propellant.
  • Shahid Varamini Industries is responsible for researching and developing ballistic missile-related guidance and control systems.
  • Shahid Kalhor Industries is responsible for manufacturing and maintaining missile launchers and ground support equipment.
  • Amir Al Mo’Menin Industries provides a variety of ballistic missile-related research and production services.

As a result of this action, all property and interests in property of those designated today subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.  In addition, foreign financial institutions that facilitate significant transactions for, or persons that provide material or certain other support to, the entities designated today risk exposure to sanctions that could sever their access to the U.S. financial system or block their property and interests in property under U.S. jurisdiction.

For identifying information on the entities designated today, click here.