The United States has sanctioned 10 individuals and firms from China, Pakistan, Turkiye, Iran, and Saudi Arabia as part of an economic pressure campaign against Iran. The sanctions were announced by the US Treasury on September 29, 2026, and target entities accused of procuring weapons and parts for Iran's military. Three of the sanctioned entities are located in Iran.
The US Treasury stated that this action aims to degrade the Iranian regime's ability to reconstitute its weapons programs and increase costs for those aiding Tehran's military procurement. The sanctions are part of Operation Economic Outcast, which seeks to restrict Iran's access to global markets.
Iran has been involved in ongoing conflicts with the US and Israel since February 28, following a series of attacks targeting its leadership and military. Critics have expressed concerns about the lack of a clear resolution to the conflict.
US Treasury Secretary Scott Bessent announced Operation Economic Outcast in August, emphasizing the goal of pressuring Iran to agree to a deal to end the conflict. President Trump stated that the operation would lead to significant economic warfare and isolation for Iran, warning that countries engaging in trade with Iran would face severe consequences.
The initial sanctions targeted Chinese firms and business leaders, despite China being one of Iran's largest trading partners. Bessent defended the administration's approach to delaying certain sanctions, stating it was to allow countries the chance to correct their actions.
Among the sanctioned entities is Hong Kong-based EC Mojo Technology Co Ltd, which the Treasury claims provided electronic components to the Iranian military. Another firm, Saudi-based Cavalier Dynamics for Technologies Company, was also sanctioned, with the Treasury indicating coordination with Saudi government partners.
All sanctioned entities are alleged to have been involved in procuring weapons and components for Iran's Ministry of Defense and Armed Forces Logistics (MODAFL). The sanctions have also affected Iranian economic sectors not directly linked to the military, including the civilian airline sector, which has seen flight cancellations.
Despite the sanctions, experts question their effectiveness, noting that Iran's currency recently fell to a record low amid ongoing pressures related to the conflict.