The US Treasury Department announced new sanctions against Iran May 29, targeting the country's nuclear and missile proliferation activities. In a statement issued from Washington dated May 23, the department said it was taking action against 20 individuals and entities for their involvement in Iran's nuclear and missile proliferation networks and Iran's attempts to circumvent previously imposed sanctions. "These actions are designed to increase pressure on the Iranian regime by tightening sanctions against Iran's energy sector and exposing key proliferation related networks that span the globe from Europe to Asia," it said. The designations include corporate entities and individuals supporting Iran's Islamic Revolutionary Guard Corps (IRGC), oil trading company Naftiran Intertrade Company (NICO) and Iran's Ministry of Defense for Armed Forces Logistics (MODAFL).
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