U.S. Department of Treasury blacklists Iranian and Turkish companies

PanARMENIAN.Net - U.S. Department of the Treasury blacklisted six individuals and five business entities in Iran and Turkey for providing materials and support to Iran's ballistic missile development efforts.

The sanctions target a procurement network that has facilitated more than $7 million in transactions for Aerospace Industries Organization, which oversees all of Iran's missile industries, the Treasury said in a statement.

The actions ban U.S. entities from transactions with the blacklisted people or businesses and seek to freeze any assets they may have under U.S. jurisdiction. The sanctions were imposed under a 2005 White House executive order aimed at disrupting proliferators of weapons of mass destruction by denying them access to the international financial system, Reuters reported.