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U.S. Treasury Sanctions 8 Individuals and 5 Entities Over Iran Procurement Network on May 29

GateNews

2026-05-31 00:13:56

According to the U.S. Treasury Department, on May 29, the department imposed sanctions targeting multiple individuals and entities related to Iran as part of an economic pressure campaign. The Treasury's Office of Foreign Assets Control (OFAC), in coordination with the U.S. Commerce Department and FBI Los Angeles Division, took action against a procurement network based in Iran suspected of fraudulently purchasing goods for Iran's Defense Ministry and Armed Forces. The sanctions designated 8 individuals and 5 entities, according to Iranian sources and OFAC's disclosure.

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