| Source: US OFAC news |
| Summary: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned nine individuals and entities under ‘Economic Fury’ for supporting weapons procurement for Iran’s Islamic Revolutionary Guard Corps (IRGC) and Ministry of Defense and Armed Forces Logistics (MODAFL). The sanctions target networks in China and Hong Kong facilitating financial transactions and weapons procurement for these Iranian entities. This action, pursuant to Executive Orders 13382 and 13902, aims to disrupt Iran’s military capabilities and prevent access to funds supporting destabilizing activities. The Treasury has frozen significant assets, including cryptocurrency, and continues to target illicit financial networks, shadow banking, and oil smuggling operations. The names of the sanctioned individuals and entities are listed in the original article on the OFAC website. |
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Economic Fury Disrupts Foreign Networks Supporting Iran’s Military and Weapons Programs
| Source: US OFAC news |
| Summary: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned nine individuals and entities under ‘Economic Fury’ for supporting weapons procurement for Iran’s Islamic Revolutionary Guard Corps (IRGC) and Ministry of Defense and Armed Forces Logistics (MODAFL). The sanctions target networks in China and Hong Kong facilitating financial transactions and weapons procurement for these Iranian entities. This action, pursuant to Executive Orders 13382 and 13902, aims to disrupt Iran’s military capabilities and prevent access to funds supporting destabilizing activities. The Treasury has frozen significant assets, including cryptocurrency, and continues to target illicit financial networks, shadow banking, and oil smuggling operations. The names of the sanctioned individuals and entities are listed in the original article on the OFAC website. |
| Read full article → |
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