meta_id 3138390

On May 8, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated 10 individuals and companies based across the Middle East, Asia, and Eastern Europe as part of the Economic Fury campaign. The designations target entities enabling Iran's military acquisition of weapons and raw materials for Iran's Shahed-series unmanned aerial vehicles (UAVs) and ballistic missile programs. Concurrently, the U.S. Department of State designated four additional entities connected to Iran's conventional arms activities. The designated persons include: China-based Yushita Shanghai International Trade Co Ltd, Dubai-based Elite Energy FZCO, Hong Kong-based AE International Trade Co Limited, Hong Kong-based HK Hesin Industry Co Limited, Belarus-based Armory Alliance LLC, Belarussian national Mohammadmahdi Maleki, Belarussian national Mohammed Ali Tolibov (chief executive of Armory Alliance), Hong Kong-based Mustad Limited, China-based Hitex Insulation Ningbo Company Limited, and Chinese national Li Genping. These entities facilitated weapons procurement for Iran's Center for Innovation and Technology Cooperation (CITC) and the Islamic Revolutionary Guard Corps (IRGC), including man-portable air-defence systems, servomotors for UAVs, and aerospace-grade materials such as carbon fibre and honeycomb fabric. The designations were made pursuant to Executive Order 13382, targeting weapons of mass destruction proliferators and their supporters. All property and interests in property of designated persons within the United States or in possession or control of U.S. persons are blocked. U.S. persons are prohibited from conducting transactions involving designated persons unless authorised or exempt by OFAC. Violations may result in civil or criminal penalties. Foreign financial institutions engaging in significant transactions with designated persons risk secondary sanctions, including restrictions on correspondent accounts or payable-through accounts in the United States.