January 5, 2018 11:17 AM

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US sanctions 5 Iranian companies for involvement in ballistic missile program

The US has imposed sanctions on five Iranian companies it says are contributing to the country's ballistic missile programme. The sanctions freeze any property the companies hold in the US, and prohibit Americans from dealing with them. <br/><br/><br/>US treasury department said the five companies that have been blacklisted were all subordinates of Iran's Shahid Bakeri Industrial Group, which is responsible for developing ballistic missiles. Treasury Secretary Steven Mnuchin linked the move to the recent protests sparked by Iran's economic problems. <br/><br/><br/>In a statement, he said these sanctions target key entities involved in Iran's ballistic missile programme, which the Iranian regime prioritises over the economic well-being of the Iranian people. Mr Mnuchin accused Iran's government of diverting "significant resources to fund threatening missile systems at the expense of its citizenry".

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