By Vernon Silver
Aug. 23 (Bloomberg) -- On Dec. 23, 2006, the United Nations Security Council slapped economic sanctions on Shahid Hemmat Industrial Group for its role in weapons proliferation as Iran's maker of liquid-fueled ballistic missiles.
Known as SHIG, the Iranian firm produces the Shahab III rocket, which has a range of at least 800 miles, according to the U.S. Treasury Department. That radius puts downtown Tel Aviv, Saudi Arabia's oil fields and India's financial center, Mumbai, within reach.
Three days after the Security Council ordered a freeze on SHIG's assets to help block Iran from developing nuclear weapons, the maker of the country's longest-range missile was ready to go shopping in Europe.
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