The U.S. Department of the Treasury has announced new sanctions against Iran's Paravar Pars Company and its board of directors. The sanctions are in response to the company's alleged involvement in supplying drones to Russia for use in Ukraine. These drones have allegedly been used in air raids, resulting in civilian casualties and the targeting of energy infrastructure.
The sanctions target eight executives from Paravar Pars. These individuals are accused of supplying the drones to Russia. The sanctions require that all property and financial interests of the eight sanctioned Iranians be blocked and reported to the Treasury's Office of Foreign Assets Control (OFAC). Furthermore, foreign financial institutions that facilitate a significant transaction or provide financial services to the sanctioned Iranians may face U.S. sanctions.
The White House has accused Iran of joining Russia in its "genocidal policy" by supplying the Russian military with drones and of potentially contributing to "widespread war crimes" in Ukraine.
The Treasury's new sanctions are an attempt to put a stop to the alleged use of drones by Russia in Ukraine, and to deter any future involvement. The sanctions will put financial pressure on the eight sanctioned Iranians, as well as any foreign financial institutions that facilitate transactions with them. It remains to be seen what impact, if any, these sanctions will have on the situation in Ukraine.