The United States on Thursday imposed new sanctions on dozens of companies and individuals it accuses of helping Iranian energy exports and facilitating the acquisition of US chip technology by Iran's military and regional allies.
The Treasury’s Office of Foreign Assets Control (OFAC) blacklisted 26 firms and three addresses in China, Turkey, and the United Arab Emirates, placing them under strict export controls.
Two subsidiaries of US chipmaker Arrow Electronics in China and Hong Kong were also added for allegedly routing American parts to Iran-linked groups a rare move against a US-listed company.
Arrow said it complies with export regulations and is cooperating with US authorities.
In a separate announcement, the Treasury sanctioned 10 individuals and 38 entities for helping Iran evade petrochemical and shipping restrictions.
"This action targets a network moving hundreds of millions of dollars’ worth of Iranian LPG, along with nearly two dozen shadow fleet vessels, a China-based crude oil terminal, and an independent “teapot” refinery," OFAC said in a statement.
Those named include Indian nationals Niti Unmesh Bhatt, Piyush Maganlal Javiya, and members of the Kasat family along with Chinese citizen Wenlong Gu and Turkish businessman Aykut Yavruca.
The sanctioned companies are based in Hong Kong, Turkey ,the UAE and the Marshall Islands.
'Degrading Tehran's cash flow'
The measures are part of a broader US campaign to curb Iran’s weapons procurement and financing. Last week, Washington sanctioned 38 alleged Iran-China networks for sourcing missile and helicopter parts.
Treasury Secretary Scott Bessent said the United States will continue blocking Tehran’s “malign objectives.”
“The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine," Bessent added.
In September, the Treasury also sanctioned four Iranians and several UAE- and Hong Kong-based firms accused of laundering hundreds of millions of dollars through oil and cryptocurrency to fund missiles, drones, and Hezbollah.
That same week, the State Department revoked Iran’s Chabahar Port waiver, warning shipping operators of possible penalties.