The Treasury Department's Office of Foreign Assets Control (OFAC) designated multiple individuals and entities as part of an ongoing operation targeting Iran's military procurement networks, the department announced.
The action names individuals and companies allegedly involved in acquiring weapons components for Iran's Ministry of Defense and Armed Forces Logistics. Seyyed Asghar Alizadeh Tabatabai, identified as a representative based in Beijing, is accused of coordinating procurement of finished weapons systems and dual-use components from China for Iran's military. Iran-based company Kavoshcom Asia R and D Group allegedly procured electronics for Iranian aircraft and missile manufacturers. Hong Kong-based EC Mojo Technology Co Limited is accused of providing electronic components to support those procurement efforts.
Pakistan-based businessman Waseem Pasha Tajammal and his company Cavalier Group are alleged to have acted as intermediaries for Iran's military procurement efforts, using his professional network to procure and distribute weapons on its behalf. Tajammal is majority shareholder of multiple Cavalier Dynamics entities operating in Pakistan, Saudi Arabia, and Turkey.
Treasury designated additional individuals and companies, including money exchange services and their operators. The designations block any property or interests in property located in the United States or controlled by U.S. persons.
The action is part of Operation Economic Outcast, announced by Treasury Secretary Scott Bessent in August 2026. Treasury said it mapped Iran's networks and financial channels used to smuggle oil, evade sanctions, and fund activities, and is coordinating with the European Union, United Kingdom, and Gulf partners.