US sanctions firms and individuals tied to Iranian weapons procurement

WASHINGTON, June 10, 2026 — The U.S. Treasury Department said Wednesday that the Office of Foreign Assets Control sanctioned ten individuals and entities accused of supporting weapons procurement for Iran’s Islamic Revolutionary Guard Corps and the Ministry of Defense and Armed Forces Logistics, widening pressure on Tehran’s military supply chains.

Treasury said the action targeted China- and Hong Kong-based individuals and companies that helped procure weapons for the IRGC and MODAFL, as well as a Hong Kong-based company that operated in Iran’s clandestine banking network and attempted weapons procurement-related transactions. Treasury said the move builds on May 8, 2026, designations targeting procurement networks sourcing weapons for the IRGC and Iran’s Center for Innovation and Technology Cooperation.

Among those named were Liu Boyu, Wang Hongyi and Xu Lichun, along with Mustad Shanghai International Trade Co. Ltd., which Treasury said is owned by Mustad Limited, a previously designated Hong Kong-registered company tied to millions of dollars in weapons transactions for the IRGC. Treasury also designated Hong Kong-based Domus Trading HK Limited under Executive Order 13902 for operating in the financial sector of the Iranian economy.

Treasury said Liu and Xu were designated under Executive Order 13382 for materially supporting the IRGC, while Wang and Mustad Shanghai were listed for being owned or controlled by, or acting for or on behalf of, Mustad.

Concurrent with OFAC’s move, the State Department imposed sanctions on two entities and two individuals based in Iran and Belarus under Executive Order 13949 in connection with Iran’s conventional arms-related activities. Treasury said the action advances National Security Presidential Memorandum 2, which directs the U.S. government to deny the IRGC access to assets and resources supporting its destabilizing activities.

As a result of the designations, any property or interests in property of the targeted parties in the United States, or in the possession or control of U.S. persons, are blocked.