Economic Fury Disrupts Foreign Networks Supporting Iran’s Military and Weapons Programs

WASHINGTON—Today, as part of Economic Fury, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned nine individuals and entities that have supported weapons procurement on behalf of Iran’s Islamic Revolutionary Guard Corps (IRGC) and Ministry of Defense and Armed Forces Logistics (MODAFL). “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.”Among those designated are China- and Hong Kong-based individuals and companies that facilitated the procurement of weapons for the IRGC and MODAFL, as well as a Hong Kong‑based company operating within Iran’s clandestine banking network that attempted weapons procurement-related transactions.