TLDR
- US Treasury sanctioned nine individuals and entities tied to Iran procurement networks.
- OFAC targeted actors based in China and Hong Kong for alleged weapons sourcing roles.
- Actions were issued under Executive Orders 13382 and 13902 linked to proliferation controls.
- Officials cited links to IRGC and Iran’s defence procurement channels across borders.
- Treasury referenced earlier enforcement involving about $1 billion in Iran crypto assets freezes.
The U.S. Department of the Treasury sanctioned nine individuals and entities linked to Iran procurement networks on Wednesday. OFAC targeted China and Hong Kong-based actors accused of supporting weapons procurement for Iranian defence bodies. Officials also referenced earlier enforcement involving about $1 billion in Iran crypto assets that were frozen.
US Targets Procurement Network Linked to Iran Defense Agencies
The Office of Foreign Assets Control announced the action under the Economic Fury campaign targeting foreign procurement channels. The agency said these networks helped Iran move funds through offshore financial systems. It also stated that the operations supported restricted military supply chains.
Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control sanctioned nine individuals and entities that have supported weapons procurement on behalf of Iran’s Islamic Revolutionary Guard Corps and Ministry of Defense and Armed Forces Logistics. Treasury…
— Treasury Department (@USTreasury) June 10, 2026
Treasury linked the sanctioned actors to the Islamic Revolutionary Guard Corps and MODAFL. Officials said these groups coordinated international sourcing for weapons procurement. They added that financial intermediaries enabled cross-border transactions for these activities.
The designations relied on Executive Order 13382 and Executive Order 13902. These orders target weapons proliferation networks and Iran financial sector activity. The U.S. said both frameworks support broader enforcement against illicit procurement systems.
Authorities identified Chinese national Liu Boyu among individuals involved in procurement support activities. They said he operated through intermediaries connected to Hong Kong-based companies. Officials added that these channels helped move funds linked to defence sourcing.
Mustad Limited in Hong Kong also faced sanctions for alleged intermediary activity. Treasury said the firm attempted to facilitate financial transactions tied to procurement deals. It also linked the company to earlier designation activity in May 2026.
Mustad Shanghai International Trade Co Ltd was also designated under the same network. Officials said the entity operated under ownership linked to Mustad Limited. They stated it functioned within a broader procurement support structure.
Domus Trading HK Limited was sanctioned for alleged participation in clandestine banking activity. Treasury said the firm helped move payments connected to weapons procurement. It added that the company operated within concealed financial channels.
Iran Crypto Assets and Enforcement Under Economic Fury Campaign
Treasury expanded its enforcement against Iran’s crypto assets and shadow banking channels. Officials said earlier actions included the seizure of roughly $1 billion in digital assets. They stated these assets were linked to Iranian network activity.
The department said Iranian-linked networks used digital wallets for cross-border transfers. Officials explained that enforcement focused on infrastructure supporting illicit financial flows. They added that digital channels formed part of broader evasion methods.
Treasury said Solos International Limited supported procurement activities for MODAFL. Officials linked the company to a Hong Kong-based managing director and owner. They said the entity facilitated transactions connected to defence acquisition.
Shangshun Hong Kong Ltd was also sanctioned under the same framework. Authorities said it operated under the control of designated individuals. They added that the firm acted on behalf of procurement facilitators.
The State Department imposed parallel sanctions on entities and individuals in Iran and Belarus. Officials cited conventional arms-related activities under Executive Order 13949. They said the measures aligned with ongoing U.S. restrictions.
Treasury warned foreign financial institutions about secondary sanctions exposure. It said that facilitation of major transactions for designated actors may trigger penalties. Officials stressed that enforcement applies across fiat and digital asset channels.
All property of designated persons within U.S. jurisdiction remains blocked under OFAC rules. The department requires reporting of any controlled assets by U.S. persons. It also restricts transactions involving blocked entities unless authorised by OFAC.
