Individuals and companies from China, Pakistan, Turkiye, Iran and Saudi Arabia have been sanctioned as part of a broader economic pressure campaign.
The administration of US President Donald Trump has added 10 individuals and companies to a list of global companies subject to sanctions for alleged ties to the Iranian military.
In a statement Tuesday, the U.S. Treasury Department accused representatives and technology companies based in China, Pakistan, Turkiye, and Saudi Arabia of procuring weapons and parts for Iran’s military. Three of the sanctioned organizations were located in Iran.
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“Today’s action further reduces the Iranian regime’s ability to rebuild its weapons program and increases costs for those who choose to support Iran’s military procurement efforts,” the U.S. Treasury said.
The sanctions were implemented as part of Operation Economic Purge, the Treasury Department’s effort to further restrict Iran’s access to global markets.
Iran has been at war since February 28 after the United States and its Israeli allies launched a series of deadly attacks targeting Tehran’s leadership and military.
But critics say there is no clear end to the war in sight, despite both sides claiming victory.
In August, U.S. Treasury Secretary Scott Bessent announced an “economic purge” operation aimed at pressuring Iran to agree to a deal to end the war.
President Trump claimed the operation would result in “economic warfare and isolation on an unprecedented scale” and warned that countries that engage in trade with Iran would face “incalculable” consequences.
Companies and business leaders based in China were targeted as part of the campaign’s first round of sanctions.
However, China remains one of Iran’s largest trading partners, and the Trump administration is under intense scrutiny over how strongly it will confront Beijing over its participation in the Iranian economy.
At the time, Bessent defended his administration’s decision to postpone some sanctions, saying, “We’re giving everyone a chance to right their wrongdoings. Why would you want to blow up the global financial system?”
President Trump recently paid Chinese President Xi Jinping his first official visit to the White House in more than a decade, after which he touted progress in trade negotiations between the two countries.
Despite the progress in relations, several Chinese companies were among those sanctioned in Tuesday’s announcement.
Among them was Hong Kong-based company EC Mojo Technology Co Ltd and one of its representatives, Li Fen.
EC Mojo “provided electronic components” to the Iranian military, while Mr. Lee “sought to evade sanctions and export controls,” the Treasury Department alleged.
Another named company was Saudi-based Cavalier Dynamics for Technologies Company. As part of the announcement, the U.S. Treasury Department said it would take action “in coordination with our Saudi government partners.”
All of those included in Tuesday’s sanctions were said to be involved in the procurement of “weapons and weapon parts for the Iranian Ministry of Defense and Armed Forces Logistics (MODAFL), the organization responsible for the research, production and acquisition of weapons for the Iranian Armed Forces.”
The economic purge operation also sanctioned sectors of Iran’s economy that are not directly connected to the military.
Recent sanctions on the civil aviation sector have caused some Iranian and international airlines to abruptly cancel flights to and from Iran, leaving some passengers stranded.
But experts question how effective the tougher sanctions campaign will ultimately be. Iran has faced tough U.S. sanctions for years, but on Tuesday the Iranian currency sank to its lowest level on record due to war-related pressure.
