Five Iranian companies have been penalized by the US government for what the Bush administration suspects is assistance to the Islamic Republic in its nuclear development activities.
The Treasury Department imposed sanctions against the Nuclear Research Center for Agriculture and Medicine, the Esfahan Nuclear Fuel Research and Production Center, Jabber Ibn Hayan, the Safety Procurement Company and Joza Industrial Company.
Any assets owned by any of the five companies in the US will be frozen under the ruling, announced the Treasury Department, and all American individuals and companies are prohibited from conducting business or other dealings with them.
Stuart Levey, the Treasury Under Secretary for terrorism and financial intelligence, said in a statement announcing the sanctions, "These five nuclear and missile entities have been used by Iran to hide its illicit conduct and further its dangerous nuclear ambitions."
The announcement followed President Bush’s signature on an executive order targeting entities aiding in the proliferation of weapons of mass destruction.
Although Iran maintains its nuclear development program is intended for peaceful domestic use, both the US and Israel are convinced that the Islamic Republic is engaged in building a nuclear weapon.