"These sanctions target key entities involved in Irans ballistic missile program, and underscore the U.S. deep concerns with Irans continued development and testing of ballistic missiles and other provocative behaviour", said Treasury Secretary Steven T Mnuchin.
"These sanctions target key entities involved in Iran's ballistic missile program, and underscore the United States' deep concerns with Iran's continued development and testing of ballistic missiles and other provocative behavior", Treasury Secretary Steve Mnuchin said in a statement.
The latest move prohibits US persons from engaging in transactions with the sanctioned companies and says financial institutions that deal with them "risk exposure to sanctions that could sever their access to the USA financial system", according to the statement.
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US State Department spokeswoman Heather Nauert claimed on Thursday that the rocket launch violated United Nations Security Council Resolution 2231. The sanctions were placed in response to Iran's continued provocative actions, including its recent launch, according to a Treasury Department press release Friday. According to the AP sources, the U.S. has so far encountered resistance in this regard as it has not given convincing evidence of prohibited activity at Iran's military facilities, which could be used by the IAEA to justify any inspection demand.
"Iran - unlike the USA - has complied in good faith with the letter AND spirit of (the nuclear deal)".
The US has long accused Tehran of shipping weapons to the Houthis, a Shiite group that controls part of Yemen and is being fought by a Saudi-led coalition.
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Though Iran boasted that the launch was successful, USA intelligence agencies "quickly determined that assessment was more propaganda than fact", according to Fox.
He added that it was an "absolute right" of the Islamic Republic to launch the satellite-carrying rocket into space, saying the move was in full conformity with the country's global commitments.
Iran has claimed its missiles are needed for self-defense, arguing its missiles and rockets are not meant to carry nuclear warheads and that the 2015 nuclear accord assures that Tehran is not developing such weapons.
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He said U.S. officials' claims about Iran's breach of the nuclear deal were in keeping with the White House's "baseless and illogical" efforts to justify its spiteful policies and measures against Tehran.