Washington: The US Department of the Treasury's Office of Foreign Assets Control (OFAC) is targeting 32 individuals and entities that operate multiple procurement networks supporting Iran's ballistic missile and unmanned aerial vehicle (UAV) production.
According to Kuwait News Agency, these networks are believed to pose a threat to US and allied personnel in the Middle East and to commercial shipping in the Red Sea. OFAC is acting to disrupt the procurement of key components, such as missile propellant precursors, and to prevent those assisting Iran from accessing the US financial system. This action is part of the Treasury's second round of nonproliferation sanctions following the reimposition of United Nations sanctions on Iran on September 27, 2025, due to Iran's continued non-compliance with its international commitments.
Undersecretary of the Treasury for Terrorism and Financial Intelligence John K. Hurley stated that Iran exploits global financial systems to launder funds and procure components for its nuclear and conventional weapons programs. He emphasized the US's commitment to exert maximum pressure on Iran to end its nuclear threat and expects the international community to fully implement UN snapback sanctions on Iran.
The action aligns with National Security Presidential Memorandum 2, which directs the US government to curtail Iran's ballistic missile program, counter its development of other weapons capabilities, and deny the Islamic Revolutionary Guard Corps (IRGC) access to resources that sustain their activities. OFAC's measures are taken pursuant to Executive Orders 13382 and 13224, targeting weapons of mass destruction proliferators, terrorist groups, and their supporters.
In a related context, the Department of State designated the IRGC and Iran's Ministry of Defense and Armed Forces Logistics (MODAFL) in October 2007 under E.O. 13382, while the Department of the Treasury designated the IRGC-Qods Force pursuant to E.O. 13224.