New U.S. Sanctions Against the Islamic Republic as Part of “Economic Fury” Campaign

The U.S. Department of the Treasury announced on Tuesday, April 21, that it has imposed new sanctions on several individuals, companies, and assets linked to the Islamic Republic as part of its “Economic Fury” campaign. According to a statement from the Office of Foreign Assets Control (OFAC), these sanctions target 14 individuals, entities, and two aircraft across Iran, Turkey, and the United Arab Emirates. U.S. officials state that these targets played a role in supplying or transferring weapons and military components to the Islamic Republic.

The list of sanctioned individuals includes Gholam-Abbas Ataei-Aghdam, Kamal Sabah Balkh-Kanloo, Jamshid Hosseinzadeh, Danial Khalili, Mohammad-Hossein Mahdian, Hamid-Reza Rokni-Fard, Mostafa Rokni-Fard, and Mohammad Vahidi.

The U.S. Treasury Department stated that this action is part of the “Economic Fury” campaign, aimed at limiting the Islamic Republic’s ballistic missile program and military capabilities. The statement noted that Tehran has relied on foreign supply networks to rebuild its military capacity and is increasingly utilizing Shahed drones to strike various targets, including energy infrastructure.

The statement specifically highlighted the role of the company “Pishgam Electronic Soffeh” in supplying drone components, noting that this firm has provided thousands of engines used in attack drones to entities affiliated with the Islamic Revolutionary Guard Corps (IRGC). Additionally, a Turkey-based company has been sanctioned for collaborating in the procurement of raw materials used in ballistic missile fuel, which U.S. officials say are used in the production of missile propellants.

Furthermore, the statement addressed the role of Mahan Air in transporting military equipment and drones, noting that various companies and individuals in countries including the UAE, Turkey, and China have participated in logistics support for the airline. In this regard, two Boeing 777 aircraft belonging to Mahan Air have been designated as sanctioned assets.

U.S. Treasury Secretary Scott Bessent stated: “The Islamic Republic must be held accountable for threatening global security and targeting civilians with missiles and drones.” He emphasized that Washington will continue to identify and target the financial and logistical networks associated with these activities. Under the Treasury Department’s mandate, all assets of the sanctioned individuals and entities within U.S. jurisdiction are frozen, and any transactions with them by American persons or entities are prohibited. Foreign financial institutions that engage in business with these parties may also face secondary sanctions.

This new round of sanctions comes amid ongoing speculation regarding the future of negotiations between Iran and the U.S., with the fate of a new round of talks still undetermined.