The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on nine individuals and entities in China and Hong Kong that assisted in weapons procurement for Iran’s Revolutionary Guards and its Defense Ministry (MODAFL).
The move, part of Operation Economic Fury, is designed to disrupt Iran’s weapons manufacturing capabilities and block deals to acquire anti-aircraft missiles.
“Through Economic Fury, the Treasury Department is disrupting the foreign procurement networks that support the Iranian military’s efforts to acquire weapons,” said Secretary of the Treasury Scott Bessent. “Treasury has frozen the Iranian regime’s assets, severely disrupted its economy, and dismantled the Iranian war machine. Treasury will not tolerate any support of the Iranian military.”