The US Treasury Department has imposed sanctions on 11 individuals and companies suspected of aiding Iran’s ballistic missile program. These entities will be restricted from using or accessing the US banking system.

The new round of sanctions was officially confirmed the day after most international economic sanctions imposed on Iran have been lifted.

The sanctioned entities include UAE-based Mabrooka Trading along with its founder, Hossein Pournaghshband, who told MEED in December 2015 that he is not aware of his or the firm’s potential inclusion in the list.

A statement from the Treasury Department has indicated that the inclusion of Pournagshband and Mabrooka in the designated entities hinges on having provided, or attempting to provide, financial, material, technological, or other support to Navid Composite Material Company, an entity sanctioned in connection with Iran’s ballistic missile program.

Navid Composite was designated by the Treasury Department in December 2013 as an Iran-based subsidiary of US- and UN-designated Sanam Industrial Group, an entity sanctioned for its involvement in Iran’s ballistic missile program. At the time of its designation, the Treasury Department document cites, Navid Composite was contracting with Asia-based entities to procure a carbon fibre production line in order to produce carbon fibre probably suitable for use in ballistic missile components.

Since at least early 2015, Pournaghshband used his company, Mabrooka Trading, to procure materials and other equipment for Navid Composite’s carbon fibre production plan, the Treasury Department said.

In an interview with MEED in December, Pournaghshband denied dealing in any carbon fibre business in Iran or on behalf of any Iranian company.

Calls to Mabrooka’s offices on 18 January were not picked up and Pournaghshband’s mobile phone has since been switched off. Its offices in Deira, Dubai are also understood to have technically stopped operating.

Other companies, two of which are Hong Kong-based, that are designated for the sanctions include:

• Chen Mingfu
• Anhui Land Group
• Candid General Trading (Dubai)

These companies are alleged to have provided support or brokered deals on behalf of Pournagshband for the procurement of micro-fibre materials and equipment for Navid Composite’s carbon fibre production line.

Other individuals designated by the Treasury Department include:

• Rahim Reza Farghdani
• Sayyed Javad Musavi
• Seyed Mirahmad Nooshin
• Sayyed Medhi Farrahi
• Seyed Mohammad Hashemi

Except for Farghdani, who serves as managing director of Candid General Trading, all individuals named by the Treasury Department, are connected to Iran’s Ministry of Defence for Armed Forces Logistics (MODAFL), which oversees and manages Iran’s ballistic missile programme.