US slaps sanctions on Iranian drone and missile production | Weapons News

US has accused Iran weapons producers of complicity in Russia’s conflict in Ukraine, in violation of worldwide legislation.

The USA has introduced that it’s sanctioning Iranian industries that produce ballistic missiles and drones, also called unmanned aerial automobiles (UAVs), which the US says have been used to facilitate Russia’s conflict in Ukraine.

In a information launch on Friday, US Secretary of State Antony Blinken stated the sanctions would goal seven individuals in management positions at Qods Aviation Industries — an Iranian UAV producer — and Iran’s Aerospace Industries Group (AIO), which manages the nation’s ballistic missile programme.

“Iran has now change into Russia’s prime navy backer,” Blinken stated within the assertion. “Iran should stop its help for Russia’s unprovoked conflict of aggression in Ukraine, and we’ll proceed to make use of each instrument at our disposal to disrupt and delay these transfers and impose prices on actors engaged on this exercise.”

Relations between the US and Iran, already tense, have change into more and more strained as Iran enhances its navy ties with Russia. The US has said that Iranian drones are getting used to wreak havoc in Ukraine, with civilians paying the best worth.

The US has beforehand sanctioned Iranian entities concerned within the “manufacturing and switch of Iranian Shahed – and Mohajer- sequence UAVs”, two fashions of drones.

Kyiv and Moscow have each utilised UAVs of their efforts through the conflict, generally for surveillance and generally for lethal assaults. Earlier this week, Ukrainian President Volodymyr Zelenskyy accused Russia of planning a protracted bombardment, counting on Iranian-made drones to “exhaust” Ukraine.

Iran had beforehand denied offering drones to Russia to be used within the Ukraine conflict, however in November, the nation confirmed that it had given a “restricted quantity” of the aerial explosives to Moscow. The explosives, Iran stated, had been delivered to Russia earlier than the invasion of Ukraine in February 2022.

In December, White Home Nationwide Safety Council spokesman John Kirby stated that Iran and Russia had been shifting in direction of a “full-fledged protection partnership” that included the Russian sale of air defence programs and future deliveries of fighter jets. Kirby additionally stated that Iran was contemplating organising a drone manufacturing facility inside Russia.

The US has accused Iran of violating worldwide legislation by failing to realize approval from the United Nations Safety Council for drone gross sales. “The Iranian regime’s navy help to Russia not solely fuels the battle in Ukraine however has additionally resulted in violations of UN Safety Council decision 2231,” Blinken stated within the launch on Friday.

The Iranian authorities has taken a defiant stance on its drones and the problem of weapons gross sales extra usually, touting the standard of its navy merchandise. It has additionally asserted that worldwide criticism is rooted in considerations that Iran might change into a competitor for world arms gross sales.

In October, Iranian President Ebrahim Raisi stated that his nation’s weapons gross sales angered nations that “don’t need us to develop … to overcome markets”.

“Let the enemy get offended and die of anger,” he added.

The US at present dominates the worldwide weapons market, with 40 US-based corporations conducting almost $300bn in arms gross sales in 2021, in line with the Stockholm Worldwide Peace Analysis Institute. The US has generally confronted criticism for its weapons programmes, which critics allege are used to help US allies, even once they have poor human rights data.

Samsung says it expects lowest quarterly profit in 8 years | Technology

South Korean tech large blames weak demand for reminiscence chips for sharp decline in earnings.

Samsung Electronics is anticipating its worst fourth-quarter revenue in eight years amid a pointy decline in world demand for reminiscence chips and smartphones.

Income are estimated to have plunged by 69 p.c to 4.3 trillion gained ($3.4 billion) throughout the October-December interval, the South Korean tech large mentioned on Friday.

Weak demand for reminiscence chips was “larger than anticipated as clients adjusted inventories… to additional tighten funds spurred by issues over deteriorating client sentiment triggered [by] continued excessive world rates of interest and weak financial outlooks,” Samsung mentioned in an announcement.

The preliminary outcomes, which have been properly wanting estimates, level to Samsung’s smallest quarterly revenue for the reason that third quarter of 2014.

The dismal revenue estimate by the world’s largest reminiscence chip, smartphone and TV maker – a bellwether for world client demand – units a weak tone for different know-how corporations’ quarterly outcomes.

“All of Samsung’s companies had a tough time however chips and cellular particularly,” mentioned Lee Min-hee, an analyst at BNK Securities.

Rising world rates of interest and value of dwelling have dampened demand for Samsung’s smartphones in addition to the semiconductors it provides to rivals corresponding to Apple.

“Reminiscence chip costs fell within the mid-20 p.c throughout the quarter, and high-end telephones corresponding to foldable didn’t promote as properly,” mentioned Lee, including that Samsung’s show enterprise was damage on account of consumer Apple’s manufacturing delays on the world’s largest iPhone manufacturing facility in China throughout the quarter.

Three analysts mentioned they anticipated Samsung’s earnings to dive once more within the present quarter, with a probable working loss for the chips enterprise as a glut drives an additional drop in reminiscence chip costs.

Samsung had mentioned in October that it didn’t count on a lot change to its 2023 investments.

Samsung has a historical past of not saying reminiscence chip manufacturing cuts, in response to analysts, however might organically regulate funding by delaying bringing in gear or by different methods.