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US targets Iran with new economic sanctions over its ballistic missile program

Men use their smartphones to follow election news as posters of Iran's President Hassan Rouhani are seen in Tehran, Iran May 17, 2017.
TIMA | Reuters
Men use their smartphones to follow election news as posters of Iran's President Hassan Rouhani are seen in Tehran, Iran May 17, 2017.

The Trump administration on Tuesday unveiled new economic sanctions against Iran over its ballistic missile program and for contributing to regional tensions, one day after warning Tehran that it was not following the spirit of its nuclear agreement with world powers.

The U.S. Department of Treasury, in a statement, said it was targeting 16 entities and individuals for supporting what is said was "illicit Iranian actors or transnational criminal activity."

Those sanctioned had backed Iran's military or Irans Islamic Revolutionary Guard Corps (IRGC) by developing drones and military equipment, producing and maintaining boats, and procuring electronic components, the U.S. said. Others have also 'orchestrated the theft of U.S. and Western software programs' sold to Iran's government, the Treasury Department said.

The U.S. State Department had also designated two Iranian organizations involved in Irans ballistic missile program, according to the Treasury Department.