The Treasury Department on Tuesday designated 16 entities and individuals for engaging in activities in support of Iran's military or Iran's Islamic Revolutionary Guard Corps (IRGC).

Three of the networks designated supported Iran's military procurement or the IRGC through the development of drones and military equipment for the IRGC, the production and maintenance of fast attack boats for the IRGC-Navy, or the procurement of electronic components for entities that support Iran's military.

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