- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-07-31T14:40:00
Five individuals and seven entities in Iran, China, and Hong Kong have been targeted for U.S. sanctions by the Treasury Department’s Office of Foreign Assets Control (OFAC) for helping to obtain components used in Iran’s missles and drones.
The components included accelerometers and gyroscopes, “which serve as key inputs to Iran’s ballistic missile and unmanned aerial vehicle (UAV) program,” OFAC said Tuesday in a press release. “Iran’s acquisition of critical missile and UAV components continues to enable its proliferation of weapons systems to its proxies in the Middle East and to Russia.”
In June 2023, OFAC sanctioned Beijing Shiny Nights Technology Development Co., a Beijing-based shell company that procured electronics equipment for end users in Iran. The latest sanctions targets an employee of Beijing Shiny Nights, a procurement agent, and Iran-based Buy Best Electronic Pars Company, which also has a facility in China.
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