World·Sanctions

Evening Wrap: Treasury sanctions 10 in Iran military procurement networks

Published 10:00 PM CT, Tuesday, September 29, 2026 · Updated 10:15 PM CT
In the Evening Wrap update

The U.S. Department of the Treasury’s Office of Foreign Assets Control on Tuesday sanctioned 10 individuals and entities across multiple jurisdictions for procuring weapons and weapons components for Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), Treasury said in a press release under Operation Economic Outcast. Targets include a MODAFL representative in Beijing, Iran-based Kavoshcom Asia R and D Group and its director, a Hong Kong electronics supplier and representatives, and Pakistan-linked Cavalier Dynamics intermediaries, Treasury said. Secretary Scott Bessent said Treasury “will not tolerate any support to the regime and will continue to identify, expose, and isolate Iran’s enablers.”

• U.S. Department of the Treasury
• OFAC
• Operation Economic Outcast
• Iran
• MODAFL
• Scott Bessent
• Sanctions
• Ballistic missiles
• Drones
• China
• Pakistan
• Kavoshcom