U.S. Extends Ceasefire, Imposes Additional Sanctions on 14 Entities Over Iranian Weapons Procurement

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[Financial News]  The Donald Trump administration sharply increased pressure on the Islamic Republic of Iran on the 21st local time, a day before talks aimed at ending the war with Iran, by abruptly announcing additional economic sanctions. 
AP reported that the U.S. Department of the Treasury placed a total of 14 individuals and entities on its sanctions list for allegedly helping Iran obtain weapons parts.
\r\nThe sanctions target companies and individuals based in Iran, the United Arab Emirates (UAE), and Türkiye.
\r\nIn particular, Dubai-based Chabok FZCO is accused of procuring U.S.-made aircraft parts and sensors for Mahan Air.
In a statement, U.S. Treasury Secretary Scott Bessent said, "The Iranian regime must be held accountable for conflict in the global energy market and for indiscriminate drone and missile attacks targeting civilians." He added, "Under President Donald Trump’s leadership, we will continue to track down Iran’s reckless financial flows as part of our 'economic pressure' policy."
The sanctions are part of Trump’s ongoing Maximum Pressure Campaign, which is being used to extract concessions to end the war.
Shortly after the sanctions were announced, President Trump said on his social media platform Truth Social that he would extend the two-week ceasefire period, which had been set to expire on the 22nd.
He had previously taken a negative view of extending the ceasefire, but on this day he abruptly changed course, saying, "We will keep the fighting suspended until Iran’s leadership and representatives bring a unified proposal." The move is seen as an effort to seize the initiative in negotiations ahead of talks between the two sides scheduled to be held in Pakistan.
As conciliatory and hardline measures from the United States are being rolled out at the same time, it remains unclear whether talks with Iran will actually take place.
\r\nIt remains unclear whether U.S.-Iran talks will be held.
Iran is strongly protesting the U.S. maritime blockade and has avoided giving a clear answer on whether it will attend the talks.
\r\nAbbas Araghchi, Minister of Foreign Affairs of Iran, criticized the move on social media, saying, "Blocking Iranian ports is an act of war and a violation of the ceasefire," and, "Seizing merchant ships and taking crews hostage is an even greater violation. We know how to resist injustice."
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jjyoon@fnnews.com Yoon Jae-jun Reporter