pc
nid 95450
Sep 29, 2026
pdonofrio@vixio.com
US Track 2
U.S. Department of the Treasury
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2097 charsU.S. Department of the Treasury Sanctions Iranian Military Procurement Networks Under Operation Economic Outcast
On September 29, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated 10 individuals and entities across multiple jurisdictions under Operation Economic Outcast for procuring weapons and weapons components for Iran's Ministry of Defense and Armed Forces Logistics (MODAFL). MODAFL oversees Iran's weapons research, production, and acquisition, including the development of ballistic missiles and unmanned aerial vehicles (UAVs).
The designations target networks facilitating Iran's military procurement efforts. Key designees include Seyyed Asghar Alizadeh Tabatabai, a MODAFL representative in Beijing coordinating weapons procurement in China; Iran-based Kavoshcom Asia R and D Group, which has supplied electronics to Iran Aircraft Manufacturing Industrial Company (HESA) and Shahid Bakeri Industrial Group (SBIG); Hong Kong-based EC Mojo Technology Co Limited and its representative Li Fen; Pakistan-based Waseem Pasha Tajammal and his Cavalier Group entities; and Iran-based Parisa Lali. OFAC is taking action pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction and their means of delivery. MODAFL and Iran's Islamic Revolutionary Guard Corps (IRGC) were designated under this authority in October 2007 in connection with Iran's ballistic missile program.
Operation Economic Outcast, announced by Treasury Secretary Scott Bessent on August 24, 2026, aims to sever Iran's economic lifelines by targeting oil smuggling networks, sanctions evasion channels, and terror financing mechanisms. The Treasury is coordinating with the European Union, United Kingdom, Gulf partners, and other U.S. government agencies. All property and interests in property of designated persons within the United States or controlled by U.S. persons are now blocked. Violations of U.S. sanctions may result in civil or criminal penalties. Foreign financial institutions engaging in transactions with designated persons risk secondary sanctions exposure and potential restrictions on U.S. correspondent and payable-through accounts.
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1162 charsUS Office of Foreign Assets Control Sanctions Iranian Military Procurement Networks
On September 29, 2026, the US Office of Foreign Assets Control (OFAC), pursuant to Executive Order 13382 , designated 10 individuals and entities linked to Iranian military procurement networks, targeting international intermediaries, technology front companies and representatives of Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL).
According to a news release , the designations focus on disrupting Iranian procurement of weapons and dual-use components under the US Department of the Treasury's broader "Operation Economic Outcast" campaign, degrading Iran's ability to develop its ballistic missile and unmanned aerial vehicle (UAV) programs.
The designations include defense contractors and procurement facilitators operating across multiple jurisdictions, including China, Hong Kong and Pakistan, used to secure critical electronics and distribute weapons on behalf of the Iranian military.
As a result of the new sanctions designations, all US-based property and interests of these targets are blocked, and US individuals and entities are generally prohibited from engaging in transactions with them, unless expressly authorized by OFAC.