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Obama To Announce New Sanctions On Iran’s Missile Program

Obama’s announcement follows two high-profile ballistic missile tests conducted by Iran in October and early December. (RELATED: Iran Ups Nuclear Threat, Tests Ballistic Missile)

Included in the Treasury Department’s list is the U.A.E.-based Mabrooka Trading Co. LLC, which has allegedly aided Iran’s acquisition of carbon-fiber required for ballistic missiles. Hossein Pournaghshband, owner of the company, will also be sanctioned for his role in using his Hong Kong-based subsidiary to acquire the necessary materials for carbon-fiber production.

Five officials at the Iranian Ministry of Defense for Armed Forces Logistics (MODFAL) will be included on the sanctions list. The Treasury alleges Iran has been actively collaborating with North Korea to acquire materials for missile production, as well as conducting joint research on missile development, reports the Wall Street Journal.

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