According to reports, organizations based in Hong Kong and the People's Republic of China are procuring drone components on behalf of the Iranian company Pishtazan Kavosh Gostar Boshra (PKGB), which is included in the U.S. sanctions list, along with its subsidiary Narin Sepehr Mobin Isatis (NSMI).
The companies involved include Dingtai Industrial Technology Co Limited, Yonghongan Trade Limited, Tianle International Co Limited, DDC Develop Industry Hong Kong Limited, Shenzhen Zhiyu International Trade Co Ltd, and JP Oriental International Holdings Limited.
"These organizations operate as front companies and facilitate the procurement and shipment of key components for PKGB and NSMI, which are essential suppliers for Iran's drone and ballistic missile programs," the statement reads.
The U.S. Treasury Department explains that the sanctions are part of President Donald Trump's campaign to "apply maximum pressure on Iran."
"Iran continues to seek new methods for acquiring critical components necessary to support its drone weaponry program through new front companies and suppliers from third countries," emphasized U.S. Treasury Secretary Scott Bessent.
On February 24, the U.S. added 30 individuals and vessels to the sanctions list, involved in oil trade with Iran.