The US has sanctioned eight people and four companies accused of helping Iran develop drones and ballistic missiles, the Treasury Department announced Tuesday.
The move also targets Mahan Air, an Iranian airline previously found to have carried weapons, military personnel and funds on behalf of the Islamic Revolutionary Guard Corps (IRGC). Two of the airline's Boeing aircraft have been formally seized as blocked property under US law.
The individuals sanctioned are Iranian nationals with operations across multiple countries. The four companies blacklisted include a trading firm, an airport services company, an aviation company and a textile trading firm -- all allegedly linked to Iran's weapons procurement networks.
By being placed on the US sanctions list, the individuals and companies are effectively cut off from the American financial system. Any assets they hold in the US are frozen, and Americans are generally prohibited from doing business with them.
Treasury Secretary Scott Bessent argued that the Iranian regime must be held accountable for its "extortion of global energy markets and indiscriminate targeting of civilians with missiles and drones."
"Under President Trump's leadership, as part of Economic Fury, Treasury will continue to follow the money and target the Iranian regime's recklessness and those who enable it," Bessent said in a statement.
State Department's deputy spokesperson Tommy Pigott said the US would keep using every tool available to "expose, disrupt, and counter Iran's threatening activities."
