Key facts
- The US sanctioned 10 individuals and entities for allegedly procuring weapons and components for Iran's Ministry of Defense and Armed Forces Logistics.
- Sanctioned individuals include representatives from China, Hong Kong, Pakistan, Iran, and Belarus.
- The US Treasury stated the action targets networks supporting Iran's military-industrial capabilities.
- The sanctions build on previous actions targeting procurement networks for Iran's IRGC and Center for Innovation and Technology Cooperation.
- The US Department of State also sanctioned two entities and two individuals in Iran and Belarus.
The U.S. Treasury Department announced sanctions on Tuesday against 10 individuals and entities accused of procuring weapons and components for Iran's Ministry of Defense and Armed Forces Logistics (MODAFL). The action, part of the "Economic Fury" initiative, aims to disrupt foreign procurement networks supporting Iran's military.
Treasury Secretary Scott Bessent stated that the U.S. will continue to target and disrupt those providing material, technological, or financial support to Iran's regime. The sanctioned parties include individuals and companies based in China, Hong Kong, Pakistan, and Iran, allegedly involved in facilitating the acquisition of components for Iranian weapons development, including for Shahed drones and ballistic missiles.
This action builds on previous designations targeting networks that sourced weapons for the Islamic Revolutionary Guard Corps (IRGC) and Iran's Center for Innovation and Technology Cooperation. The U.S. Department of State concurrently imposed sanctions on two entities and two individuals in Iran and Belarus, pursuant to Executive Order 13949, for their involvement in Iran's conventional arms-related activities.
Among the designated entities are China-based Yushita Shanghai International Trade Co Ltd, accused of helping Iran purchase weapons from China, and Dubai-based Elite Energy FZCO, which allegedly transferred millions of dollars to a Hong Kong-based company involved in procurement operations. Other sanctioned entities include Hong Kong-based HK Hesin Industry Co Ltd and Mustad Ltd, and Iran-based Pishgam Electronic Safeh Co, accused of procuring drone motors. China-based Hitex Insulation Ningbo Co Ltd was sanctioned for allegedly supplying materials used in ballistic missiles.