US sanctions China, Hong Kong entities over Iran weapons

The United States imposed sanctions on nine individuals and entities on Wednesday, June 10, targeting a network accused of facilitating weapons procurement for Iran’s military. The action, led by the Treasury Department’s Office of Foreign Assets Control, focused on actors based in China and Hong Kong alleged to have supported Iran’s Islamic Revolutionary Guard Corps and Ministry of Defense and Armed Forces Logistics.

The sanctions were issued under Executive Orders 13382 and 13902, which target weapons proliferation networks and Iran’s financial sector. Officials stated the designated networks helped Iran move funds through offshore financial systems and supported restricted military supply chains. Treasury Secretary Scott Bessent noted the measures are part of an ongoing campaign to disrupt overseas supply chains that help Iran acquire military equipment.

Among those sanctioned are Chinese national Liu Boyu and several companies, including Mustad Limited, Mustad Shanghai International Trade Co Ltd, Domus Trading HK Limited, Solos International Limited, and Shangshun Hong Kong Ltd. Authorities allege these individuals and firms operated as intermediaries, facilitating financial...