US imposes new Iran sanctions for ballistic missile testing

The United States on Sunday announced new sanctions linked to Iran’s ballistic missile program, just a day after sanctions targeting its nuclear program were lifted.

Within hours of the release of the Americans, the USA imposed sanctions against those involved in Iran’s ballistic missile program as a result of Tehran’s firing of a medium-range ballistic missile.

Jan 17 The United States imposed sanctions on 11 companies and individuals for supplying Iran’s ballistic missile program in a move delayed by over two weeks so as not to endanger this weekend’s release of US prisoners, sources familiar with the matter said.

The missile program “presents a major threat to regional and global security and will continue to be subject to worldwide sanctions”, said Adam J. Szubin, Director of the Office of Foreign Assets Control at the Depeartment of the Treasury. U.S. President Barack Obama said the test was a violation of Iran’s “international obligations”.

Clinton on Saturday praised President Obama for securing the safe return of four USA citizens and implementing the Iranian nuclear deal, but warned that all concerns about Iran are not assuaged. “I will vigorously enforce the nuclear deal as part of a comprehensive strategy that confronts all of Iran’s negative actions in the region and stand side-by-side with our ally Israel and our Arab partners”.

At the same time, the U.S. State Department announced it had agreed to release $400 million and $1.3 billion in interest for funds that had been frozen by the United State.

The US move comes after an Iranian missile test carried out in October that broke a UN Security Council resolution restricting the development of missiles that are capable of carrying nuclear warheads.

The implementation of a historic nuclear deal with world powers is expected to pave the way for a new economic reality in Iran, now freed from harsh worldwide sanctions. Iran’s Central Bank Governor, Valiollah Seif, was quoted by the official IRNA news agency as saying that Iran will not transfer the cash and instead will use it to import the goods it needs.

A European oil embargo on Iran will end. Official Iranian reports have set the total amount of frozen Iranian assets overseas at $100 billion.