US Sanctions 10 Individuals and Companies in China and Hong Kong Over Alleged Support for Iran’s Military Program

The US Department of the Treasury has announced a new round of sanctions targeting ten individuals and companies in China and Hong Kong, accusing them of supplying raw materials and technologies used in the production of Iran’s Shahed drones.

In a statement, the department reaffirmed Washington’s commitment to pursuing foreign companies involved in illicit trade with Iran, including entities operating in the aviation sector. It also warned international financial institutions against facilitating such activities, cautioning that secondary sanctions could be imposed on entities linked to independent Chinese oil refineries in an effort to restrict funding for prohibited operations.

The sanctions list includes several companies based in China and Hong Kong, including Yoshita Shanghai, Elite Energy, HK Hsin and Mostad, which are accused of providing financial and logistical support to Iran’s Islamic Revolutionary Guard Corps (IRGC).

The measures also target Armory Alliance in Belarus and China-based Hitex Insulation, which is accused of supplying materials used in ballistic missile production. Iranian company Pishgam Electronic was also included over its alleged role in supplying engines for unmanned aerial vehicles.

US Treasury Secretary Scott Bessent said on Saturday that Washington would continue its economic campaign against Iran “without relent.” He warned that any foreign entities providing military assistance or supplying weapons to the Iranian military would face potential sanctions, as the US administration maintains its pressure campaign against Tehran.