US targets Iran with new economic sanctions over its ballistic missile program

The US Department of Treasury, in a statement, said it was targeting 16 entities and individuals for supporting what it said was “illicit Iranian actors or transnational criminal activity.”

The Trump administration on Tuesday unveiled new economic sanctions against Iran over its ballistic missile program and for contributing to regional tensions, one day after warning Tehran that it was not following the spirit of its nuclear agreement with world powers.

A staff member removes the Iranian flag from the stage after a group picture with foreign ministers and representatives of the U.S., Iran, China, Russia, Britain, Germany, France and the European Union during the Iran nuclear talks at the Vienna International Center in Vienna, Austria. (Reuters)

The US Department of Treasury, in a statement, said it was targeting 16 entities and individuals for supporting what it said was “illicit Iranian actors or transnational criminal activity.”

Those sanctioned had backed Iran’s military or Iran’s Islamic Revolutionary Guard Corps (IRGC) by developing drones and military equipment, producing and maintaining boats, and procuring electronic components, the US said. Others has also ‘orchestrated the theft of US and Western software programs’ sold to Iran’s government, the Treasury Department said.

The US State Department had also designated two Iranian organizations involved in Iran’s ballistic missile program, according to the Treasury Department.