Washington, May 9, 2026 — The U.S. Treasury Department on Friday announced a broad set of sanctions aimed at individuals and companies it says helped Iran acquire weapons, UAV parts and missile-related materials under the Trump administration’s “Economic Fury” campaign.
The Office of Foreign Assets Control (OFAC) designated 10 people and firms operating across the Middle East, Asia and Eastern Europe, accusing them of supporting Iran’s military procurement networks, including activity tied to the Islamic Revolutionary Guard Corps and the Shahed-series drones and ballistic missile programs.
Treasury said the measures target procurement channels linked to the Center for Progress and Development of Iran (CDPI), formerly known as the Center for Innovation and Technology Cooperation (CITC), which Washington accuses of coordinating technology and weapons acquisitions for Iran.
“While the surviving IRGC leaders are trapped like rats in a sinking ship, the Treasury Department is unrelenting in our Economic Fury campaign,” said U.S. 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 U.S. forces.”
Named in the action were China-based Yushita Shanghai International Trade Co. Ltd.; Hong Kong-based AE International Trade Co. Limited and HK Hesin Industry Co. Limited; Belarus-based Armoury Alliance LLC; and several individuals alleged to have facilitated procurement on Iran’s behalf. Treasury also designated Hong Kong-based Mustad Limited for allegedly enabling financial transactions tied to IRGC weapons procurement operations.
In a separate move, OFAC designated Iran-based Pishgam Electronic Safeh Company (PESC), which it says procured servomotors recovered from downed Shahed-136 drones for the IRGC Aerospace Force Self Sufficiency Jihad Organization (IRGC ASF SSJO). China’s Hitex Insulation Ningbo Company Limited and its legal representative Li Genping were sanctioned for allegedly supplying aerospace-grade materials—including carbon fiber and honeycomb fabric—used in Iran’s UAV and missile programs.
Under the sanctions, any U.S.-based property or interests of the designated parties are blocked, and foreign financial institutions that engage with them could face secondary sanctions, Treasury said. The department highlighted the action on its social media channels as part of the ongoing “Economic Fury” effort to curb Iran’s missile development and weapons procurement.
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