&imwidth=800&imheight=600&format=webp&quality=medium "US Treasury sanctions 10 individuals and entities to target Iran’s military supply chain")
The United States on Tuesday targeted individuals and entities that have been financial facilitators or enablers of Iran’s military supply chain, as the Trump administration pushes forward with economic sanctions against Tehran at a time when renewed diplomacy between the two countries remains uncertain.
The US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned 10 individuals and entities that have procured weapons and weapon components for Iran’s Ministry of Defence and Armed Forces Logistics (MODAFL), the entity responsible for weapons research, production, and acquisition for Iran’s armed forces.
MODAFL also oversees organisations engaged in the development of Iran’s ballistic missiles and unmanned aerial vehicles (UAVs).
Treasury Secretary Scott Bessent said on Tuesday, “Under Operation Economic Outcast, Treasury will continue to target and disrupt those who provide material, technological, or financial support that allows the Iranian regime to sustain its terrorist enterprise.”
“Treasury will not tolerate any support to the regime and will continue to identify, expose, and isolate Iran’s enablers,” he added.
The action on Tuesday further degrades the Iranian regime’s ability to reconstitute its weapons programmes and increases the costs for those who choose to aid Tehran’s military procurement efforts, said a statement.
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The latest action by the Treasury Department is part of the administration's Operation Economic Outcast campaign, which is aimed at severing “critical financial lifelines” for the already heavily sanctioned Iranian government.
Ten individuals and entities based in Iran, Hong Kong, and Pakistan were sanctioned for allegedly procuring weapons and weapon components for Iran’s defence ministry as it fights its now seven-month war against the US.
US officials said they want to disrupt Iran’s defence systems and further degrade the government's ability to reconstitute its weapons programme. The aim of the latest sanctions includes increasing the costs for the people and companies that have assisted Iran’s military procurement efforts.
Operation Economic Outcast, dubbed “Economic D-Day” by Secretary Scott Bessent, is aimed at severing the remaining economic lifelines that sustain the Iranian regime.
The US Treasury has mapped the networks, facilitators, and financial channels that Iran uses to smuggle oil, evade sanctions, and fund terror. Working with partners across the US government, the European Union, United Kingdom, Gulf partners, and others, Treasury is targeting any source of the regime’s illicit revenue.
Treasury warned that any entity facilitating money laundering or sanctions evasion on behalf of Iran risks being cut off from the US financial system. It also emphasised the secondary sanctions exposure for those who continue doing business with the Iranian regime and will accelerate the pace of US enforcement.
