Treasury sanctions fall on 26 Iranian-tied firms

The US extended sanctions Thursday to more than two dozen firms that it named as fronts for Iran's missile program.

The Treasury Department said 24 firms had direct ties to the state-owned Islamic Republic of Iran Shipping Lines (IRISL) while two more were affiliated with Aerospace Industries Organization (AIO), a subsidiary of Iran's Ministry of Defense, according to Reuters.

The Treasury Department said four of the firms tied to IRISL were located in the Isle of Man, a self-governed British territory. Another 20 were located in Hong Kong, with the last two being Tehran-based affiliates of AIO, Treasury said.

"Today's actions build on Treasury's efforts to expose the financial and corporate underpinnings of IRISL and AIO, two entities that face international sanctions for their involvement in Iran's missile programs," said the department.

The latest actions prevent all US entities from entering into any transactions with the designated firms and individuals, whilst also seeking to freeze any assets they may hold under US jurisdiction.

"Today's designations expose the latest in a string of deceptive measures Iran is taking to continue its illicit conduct," said Stuart Levey, Treasury undersecretary for terrorism and financial intelligence..

Agencies