The US Department of the Treasury has imposed sanctions targeting Iran's efforts to locally produce components for ballistic missiles, according to Reuters.

The department stated yesterday that "the sanctions target six individuals and 12 entities for their involvement in helping the Iranian regime domestically manufacture key materials needed for Tehran’s ballistic missile program."

It added that "the sanctioned individuals and entities, based in Iran and China, support various subordinate bodies of the Iranian Revolutionary Guard Corps that oversee efforts to develop carbon fiber materials necessary for manufacturing intercontinental ballistic missiles."