The U.S. Department of the Treasury’s Office of Foreign Assets Control sanctioned 10 individuals and entities across several jurisdictions for procuring weapons and components for Iran’s Ministry of Defense and Armed Forces Logistics. The networks obtained finished weapons systems and dual use electronics supporting Iranian military aircraft, unmanned aerial vehicles and ballistic missiles. The designations were imposed under Executive Order 13382 as part of Operation Economic Outcast. The action covers a ministry representative coordinating procurement in China, Iran based Kavoshcom Asia R and D Group and associated individuals and companies in Iran, China and Hong Kong. It also targets Pakistan based defense executive Waseem Pasha Tajammal and three companies he controls in Pakistan, Saudi Arabia and Türkiye for acting as intermediaries to procure and distribute weapons on the ministry’s behalf. The action against the Saudi company was coordinated with Saudi government partners. Property and interests in property of the designated persons within U.S. jurisdiction are blocked, as are entities they own 50 percent or more, individually or collectively. U.S. persons are generally prohibited from transactions involving blocked property, while foreign financial institutions facilitating significant transactions for the designated persons may face restrictions on U.S. correspondent or payable through accounts.
U.S. Department of the Treasury sanctions 10 participants in Iran’s weapons procurement networks
The U.S. Department of the Treasury sanctioned 10 individuals and entities involved in procuring weapons and dual use components for Iran’s Ministry of Defense and Armed Forces Logistics. The targets span Iran, China, Hong Kong, Pakistan, Saudi Arabia and Türkiye, and include networks supporting military aircraft, drones and ballistic missiles. Their U.S. linked property is blocked, and foreign financial institutions facilitating significant transactions may face secondary sanctions.