U.S. Imposes Sanctions on Entities Supporting Iran's Military Supply Chain

The U.S. on September 29, 2026, targeted individuals and firms globally accused of facilitating Iran's military supply chain, as diplomatic relations between the two countries remain uncertain. This action by the Treasury Department is part of the Operation Economic Outcast campaign, aimed at disrupting financial support for the Iranian government, which is already under heavy sanctions. Treasury Secretary Scott Bessent stated, "Treasury will not tolerate any support to the regime and will continue to identify, expose, and isolate Iran's enablers." Ten individuals and entities based in Iran, Hong Kong, and Pakistan were sanctioned for allegedly procuring weapons and components for Iran's defense ministry amid its ongoing conflict with the U.S. U.S. officials aim to disrupt Iran's defense systems and hinder its weapons program. The sanctions also target entities supporting Iran's Ministry of Defense and Armed Forces Logistics in missile and drone production. The sanctions coincide with a significant decline in Iran's currency, which fell to a record low of over 2.5 million rials to the U.S. dollar, exacerbated by a U.S. naval blockade on Iranian oil and new sanctions since the conflict began on February 28, 2026.