The Treasury Department announced on Tuesday that the US has imposed sanctions on eight people and four companies accused of helping Iran develop drones and ballistic missiles.
The move also targets Mahan Air, an Iranian airline previously found to have transported weapons, military personnel and funds on behalf of the Islamic Revolutionary Guard Corps (IRGC). Two of the airline's Boeing jets have been formally seized as frozen property under US law.
The individuals sanctioned are Iranian nationals with operations in multiple countries. The four companies blacklisted include a trading firm, an airport services company, an aviation company, and a textile trading firm — all suspected of being linked to Iran's arms procurement networks.
By being placed on the US sanctions list, individuals and companies are effectively excluded from the US 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 should be held accountable for "extorting global energy markets and indiscriminately targeting civilians with missiles and drones."
"Under President Trump's leadership, as part of 'Economic Fury,' Treasury will continue to pursue the money and target the recklessness of the Iranian regime and those who enable it," Bessent said in a statement.
State Department deputy spokesman Tommy Pigott said the US would continue to use every tool at its disposal to "detect, disrupt and counter Iran's threatening activities."
