US imposes limited new sanctions on Iran after lifting broader penalties

The United States on Sunday imposed sanctions on 11 companies and individuals for supplying Iran's ballistic missile program, the U.S. Treasury Department said.

The new sanctions come after the Obama administration delayed the action for more than two weeks during tense negotiations to free five American prisoners, according to people familiar with the matter.

The U.S. Treasury Department blacklisted the UAE-based Mabrooka Trading, and its owner Hossein Pournaghshband for helping Iran produce carbon fiber for its ballistic missile program. Financial institutions and companies are barred from dealing with those on the U.S. blacklist.

“Iran’s ballistic missile program poses a significant threat to regional and global security, and it will continue to be subject to international sanctions,” acting Under Secretary for Terrorism and Financial Intelligence Adam Szubin said.

Iran conducted a precision-guided ballistic missile test capable of delivering a nuclear warhead, violating a United Nations ban last October.

Reuters