U.S. Imposes Sanctions on Iran, and Chinese Firms Accused of Abetting Iran’s Missile Programs

The Biden Administration announced new sanctions on Iran’s missile program yesterday which not only targeted Iranian entities but also Chinese firms and individuals accused of collaborating with Iran, accusing them of running a procurement network for Iran’s missile and military programs, reported Reuters. A U.S. Treasury Department statement said the network conducted transactions and enabled the procurement of sensitive and critical parts and technology for key actors in Iran’s ballistic missile development, including Iran’s Defense Ministry and Armed Forces Logistics (MODAFL) agency, which is under U.S. sanctions.