On April 19, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions, pursuant to Executive Order 13382, against one individual and six entities involved in a sanctions evasion network responsible for procuring electronic components for Iran’s military programs, including goods and technology used in unmanned aerial vehicles. The sanctions target the head of a previously U.S.-designated Iranian company, as well as its Iran-, Malaysia-, Hong Kong-, and PRC-based front companies and suppliers. OFAC’s action also updates the Specially Designated Nationals and Blocked Persons List to include an alias and fictious company names used by the designated company in its procurement efforts. The sanctions block all property and interests in property subject to U.S. jurisdiction belonging to the sanctioned persons and require such property, as well as “any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons,” to be reported to OFAC. U.S. persons are also generally prohibited from engaging in any dealings involving the property or interests in property of blocked or designated persons, OFAC said, warning that persons that engage in certain transactions with the designated individuals or entities may themselves be exposed to sanctions. Moreover, “any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for any of the individuals or entities designated today pursuant to E.O. 13382 could be subject to U.S. sanctions.”