US Treasury Secy says economic action against Iran to continue

“Under Operation Economic Outcast, Treasury will continue to target and disrupt those who provide material, technological or financial support that allows the Iranian regime to sustain its terrorist enterprise,” Bessent said in a Treasury Department statement.

“Treasury will not tolerate any support to the regime and will continue to identify, expose and isolate Iran’s enablers.”

His statement comes as the US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned 10 individuals and entities in five countries on Tuesday. They are accused of procuring weapons and weapons components for Iran’s Ministry of Defence and Armed Forces Logistics (MODAFL), the entity responsible for weapons research, production and purchasing for Iran’s armed forces, reports AL Jazeera.

MODAFL also oversees organisations engaged in the development of Iran’s ballistic missiles and unmanned aerial vehicles (UAVs).

“Today’s action further degrades the Iranian regime’s ability to reconstitute its weapons programs and increases the costs for those who choose to aid Tehran’s military procurement efforts,” Treasury said in a statement.