The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned nine individuals and entities for supporting weapons procurement for Iran’s Islamic Revolutionary Guard Corps (IRGC) and Ministry of Defense and Armed Forces Logistics (MODAFL). The designations focus on China- and Hong Kong-based procurement intermediaries, including staff and an affiliate of Mustad Limited, which OFAC designated on May 8, 2026, and on Domus Trading HK Limited, a Hong Kong company that Treasury says operates within Iran’s clandestine banking network and attempted weapons procurement payments. Those added to the sanctions list are Liu Boyu, Xu Lichun, Wang Hongyi, Mustad Shanghai International Trade Co Ltd, Domus Trading HK Limited, and MODAFL-linked facilitators Manuchehr Golchin, Meng Shaopei, Solos International Limited, and Shangshun Hong Kong Ltd. OFAC used Executive Order 13382 for procurement support to the IRGC or MODAFL and Executive Order 13902 for Domus Trading’s activity in Iran’s financial sector. The action blocks any property or interests in property subject to U.S. jurisdiction, extends to entities owned 50 percent or more by blocked persons, bars most dealings by U.S. persons, and can expose foreign financial institutions that facilitate significant transactions to secondary sanctions.
U.S. Department of the Treasury2026-06-10
U.S. Department of the Treasury sanctions nine individuals and entities tied to Iranian weapons procurement and clandestine banking in China and Hong Kong
The U.S. Department of the Treasury’s Office of Foreign Assets Control has sanctioned nine China-, Hong Kong- and Iran-linked individuals and entities for supporting weapons procurement for Iran’s Islamic Revolutionary Guard Corps and Ministry of Defense. OFAC designated staff and an affiliate of Mustad Limited and Domus Trading HK Limited under Executive Orders 13382 and 13902. The action blocks property under U.S. jurisdiction, restricts most dealings by U.S. persons, extends to majority-owned entities, and may expose foreign financial institutions to secondary sanctions.