Washington DC [US], May 9 : The US Treasury Department on Friday (Local Time) announced sweeping new sanctions targeting individuals and companies accused of helping Iran procure weapons, UAV components and missile-related materials as part of the US President Donald Trump administration's "Economic Fury" campaign.
In a statement, the Treasury Department's Office of Foreign Assets Control (OFAC) said it sanctioned 10 individuals and companies operating across West Asia, Asia and Eastern Europe that allegedly supported Iran's military procurement networks, including efforts linked to the Islamic Revolutionary Guard Corps and Iran's Shahed-series unmanned aerial vehicles (UAVs) and ballistic missile programme.
}}}}Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control (OFAC) targeted 10 individuals and companies based in several jurisdictions across the Middle East, Asia, and Eastern Europe that are enabling efforts by Iran’s military to secure weapons, as well as raw…— Treasury Department (@USTreasury) May 8, 2026
According to the Treasury Department, the sanctions targeted procurement networks linked to the Center for Progress and Development of Iran (CDPI), previously known as the Center for Innovation and Technology Cooperation (CITC), which Washington accuses of coordinating Iranian technology and weapons acquisitions.
"While the surviving IRGC leaders are trapped like rats in a sinking ship, the Treasury Department is unrelenting in our Economic Fury campaign," said US Secretary of the Treasury Scott Bessent.
"Under President Trump's decisive leadership, we will continue to act to keep America safe and target foreign individuals and companies providing Iran's military with weapons for use against US forces," he added.
Among those sanctioned were China-based Yushita Shanghai International Trade Co Ltd, Hong Kong-based AE International Trade Co Limited, HK Hesin Industry Co Limited, Belarus-based Armoury Alliance LLC, and several individuals accused of facilitating procurement activities on behalf of Iran.
Treasury also designated Hong Kong-based Mustad Limited for allegedly facilitating financial transactions tied to the IRGC's weapons procurement operations.
In a separate action, OFAC targeted Iran-based Pishgam Electronic Safeh Company (PESC), which the US alleges procured servomotors recovered from downed Shahed-136 drones for the IRGC Aerospace Force Self Sufficiency Jihad Organization (IRGC ASF SSJO).
China-based Hitex Insulation Ningbo Company Limited and its legal representative, Li Genping, were also sanctioned for allegedly supplying aerospace-grade materials, including carbon fibre and honeycomb fabric, for Iran's UAV and ballistic missile programmes.
The Treasury Department said the measures are part of President Trump's renewed "maximum pressure" strategy aimed at curbing Iran's ballistic missile development, weapons procurement activities and regional military influence.
According to the Treasury, under the sanctions, all US-based property and interests linked to the designated individuals and entities are blocked, while foreign financial institutions engaging with them could face secondary sanctions.
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