U.S. imposes sanctions on Hong Kong, China entities over Iranian drone ties

Investing.com -- The United States has imposed sanctions on six entities based in Hong Kong and China last Wednesday. The US accuses these entities of being part of an Iranian drone procurement network. This move is part of the Trump administration's "maximum pressure" campaign against Tehran.

The US Treasury Department stated that these entities were involved in procuring components for unmanned aerial vehicles (UAVs) on behalf of an Iranian firm, Pishtazan Kavosh Gostar Boshra, which is under US sanctions. Additionally, Narin Sepehr Mobin Isatis, a subsidiary of the Iranian firm, was also involved in the procurement process.

The Treasury Department added that these firms were instrumental suppliers for Iran's UAV and ballistic missile programs. The sanctions are part of the US's efforts to curb Iran's ability to acquire technology and components for its UAV and missile programs.

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