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The US has imposed a new round of sanctions against 14 individuals, companies, and aircraft tied to Iran’s weapons and drone procurement networks.
Getting into it: The Treasury Department announced the sanctions Tuesday, targeting entities based in Iran, Turkey, and the United Arab Emirates accused of helping Iran rebuild its ballistic missile production capacity and acquire components for its Shahed-style attack drones. Among those sanctioned is Mahan Air, an Iran-based private airline whose chairman and several board members were designated for providing support to Iran’s Islamic Revolutionary Guard Corps. A Dubai-based firm called Chabok FZCO was also sanctioned for allegedly procuring US-origin aircraft components for Mahan Air.
A Turkish company was also hit for supplying materials used in ballistic missile propellant, and an Iran-based currency exchanger was designated for facilitating payments through third-country bank accounts to shield the transactions.
In a statement, Treasury Secretary Scott Bessent said, “The Iranian regime must be held accountable for its extortion of global energy markets and indiscriminate targeting of civilians with missiles and drones.” He also warned that any person or vessel facilitating Iran’s oil trade through covert networks “risks exposure to US sanctions.”
The sanctions landed the same day Trump reversed course and announced he would extend the ceasefire (which had been set to expire on Wednesday) until Iran’s leaders can come up with “a unified proposal.” It was a notable turnaround from Trump, who earlier Tuesday told CNBC he did not want to extend the truce and expected to resume bombing.
Despite all of this, Iran has not confirmed it will attend a second round of peace talks in Pakistan, with its foreign minister calling the US blockade “an act of war and thus a violation of the ceasefire.”
