The Council said “Restrictive measures now apply to a total of 216 individuals and 37 entities."
Qiao is in China and has not been arrested, prosecutors said. He faces charges including sanctions evasion, bank fraud and money laundering.
Tit-for-tat seizures are on the rise as Tehran and Washington clash in the Middle East.
This means a freeze on any assets they hold inside the EU and a ban on travel to the bloc. EU companies are also banned from making funds available to those under sanctions.
"Treasury will continue to enforce its sanctions against Iran’s military procurement efforts that contribute to regional insecurity and global instability."
Iranian media reported that Moscow expressed readiness to invest in Iran's steel, oil and petrochemical industries.
Canada's latest round of sanctions against Iran, the 10th since October, targets individuals including senior officials from the Islamic Revolutionary Guard Corps and Law Enforcement Forces.
The US recently targeted Iran's unmanned aerial vehicle industry over its supply of drones to Russia.
After US sanctions were imposed on Iran in 2018, Iranian exports have taken significant hits worldwide.
The US Treasury Department imposed sanctions on six Iran-based petrochemical manufacturers, and three firms in Malaysia and Singapore, over the production, sale and shipment of Iranian petrochemichal
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