The US Treasury Department has sanctioned nine individuals and entities accused of supporting Iranian arms purchasing activities.
The action targets actors based in China and Hong Kong who allegedly facilitated financial transactions and sourcing operations. Treasury announced these measures as part of its Economic Fury campaign and linked the network to Iran’s military procurement structure.
Treasury expands control of economic fury
The Office of Foreign Assets Control announced the sanctions Wednesday and identified nine targets linked to Iranian procurement operations. Treasury said the network supports arms procurement efforts of Iran’s Islamic Revolutionary Guard Corps and the Ministry of Defense and Armed Forces Logistics. Officials said the designated actors used offshore financial channels to support restricted procurement activities.
Today, amid the economic furor, the Treasury’s Office of Foreign Assets Control sanctioned nine individuals and entities who supported arms purchases on behalf of Iran’s Islamic Revolutionary Guard Corps and the Ministry of Defense and Armed Forces Logistics. Cash…
– Treasury Department (@USTreasury) June 10, 2026
According to the Treasury, this action is part of the Economic Fury campaign against foreign networks supporting Iranian operations. The agency said supply channels relied on international intermediaries and financial facilitators. Treasury also referenced previous enforcement efforts involving nearly $1 billion in Iranian crypto assets that authorities froze.
Treasury said the sanctioned parties helped move funds through offshore systems while supporting supply transactions. The officials added that these networks had ties to organizations already subject to U.S. restrictions. The agency said these plans aim to disrupt access to foreign financial providers and services.
Chinese and Hong Kong actors risk sanctions
Among those named, Treasury identified Chinese national Liu Boyu. Authorities said he operated through intermediaries linked to Hong Kong-based companies. Treasury said these channels facilitate transactions related to defense procurement activities.
Authorities said Liu participated in operations supporting purchases on behalf of Iranian entities. Treasury added that financial intermediaries help facilitate payments related to international sourcing efforts. Officials linked these transactions to purchasing activity involving restricted military supplies.
Mustad Limited, based in Hong Kong, was also on the sanctions list. The Treasury alleged that the company acted as an intermediary in financial transactions related to the procurement agreements. Officials said the company had ties to activities related to previous enforcement actions.
Decrees provide a legal basis
Treasury imposed the sanctions under Executive Orders 13382 and 13902. Officials said the executive orders targeted arms proliferation networks and financial activities linked to Iran. The Treasury said both authorities support the enforcement of laws against procurement and financing structures.
According to the agency, Executive Order 13382 addresses entities involved in weapons proliferation activities. Executive Order 13902 targets sectors of the Iranian economy that support sanctioned operations. Treasury said these authorities provide tools to pursue foreign facilitators and intermediaries.
The ministry said the sanctioned individuals and companies now face asset blocking measures under U.S. jurisdiction. Treasury also prohibits U.S. persons from engaging in transactions with designated parties. The announcement identified Mustad Limited as a company previously linked to designation action in May 2026.
