US announces economic sanctions on Chinese, Russian firms for supporting Iran’s missile program

The United States on November 27, announced to impose economic sanctions on Russian and Chinese firms that according to Washington had extended support to the development of Iran’s missile program.

In a statement issued, Secretary of State Mike Pompeo said that the four firms – two Chinese-based companies, Chengdu Best New Materials and Zibo Elim Trade, as well as Russia-based Nilco Group and Joint Stock Company Elecon, accused of “transferring sensitive technology and items to Iran’s missile program,” will be subject to restrictions on US government aid and on their exports for two years. Adding further, he said, “We will continue to work to impede Iran’s missile development efforts and use our sanctions authorities to spotlight the foreign suppliers, such as these entities in the PRC (China) and Russia, that provide missile-related materials and technology to Iran.”

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