The UAE firm suspected of aiding Iranian entities in acquiring carbon fibre for Iran’s missile program is not aware of its potential inclusion in the new sanctions being prepared by the US Treasury Department.

Hossein Pournaghshband, founder of Dubai-based Mabrooka Trading, tells MEED he is not aware of such development. Pournaghshband said his company trades electrical components and motors, and is not involved in the supply or trade of carbon fibre in the UAE or in Iran.

Mabrooka and Pournaghshband were identified by a Reuters report on 30 December, citing a US Treasury Department source, among the 12 firms and individuals in Iran, Hong Kong and the UAE suspected of participating in Iran’s ballistic-missile programme.

Reuters said that a confidential report generated on 15 December by the UN sanctions team indicated that a “medium-range Emad rocket that Iran tested on 10 October was a ballistic missile capable of delivering a nuclear warhead” effectively violating a UN Security Council resolution.

Tehran has reportedly disputed the assessment that the Emad missile was capable of delivering a nuclear warhead.

It is understood that the US Treasury Department retains its right to blacklist Iranian entities suspected of involvement in Iran’s missile development even within the context of July’s nuclear agreement between Iran and the major world powers. The imposition of such sanctions, however, could be viewed by Iran as a violation of the agreement.

A US sanction would effectively prohibit US or foreign nationals from conducting business with the concerned entities; any assets they maintain within the American financial system will also be frozen.

Other individuals targeted by the new sanctions include five Iranian defence ministry personnel and other subsidiaries of the ministry that are involved in the state’s ballistic-missile programme.