Covert Iranian UAV procurement network targeted

Yesterday, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) targeted six entities based in Hong Kong and the People’s Republic of China (PRC) engaged in the procurement of unmanned aerial vehicle (UAV) components on behalf of OFAC-designated Iranian firm Pishtazan Kavosh Gostar Boshra (PKGB) and its subsidiary Narin Sepehr Mobin Isatis (NSMI). These entities operate as front companies and facilitate the purchase and shipment of key components for the benefit of PKGB and NSMI, which serve as key suppliers for Iran’s UAV and ballistic missile programs.

For a link to the names and identification information of the designated parties, see yesterday's BankersOnline OFAC Update.