WASHINGTON-Today, under Operation Economic Outcast, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 10 individuals and entities in multiple jurisdictions that have procured weapons and weapons components for Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), the entity responsible for weapons research, production, and acquisition for Iran’s armed forces. MODAFL also oversees organizations engaged in the development of Iran’s ballistic missiles and unmanned aerial vehicles (UAVs).
“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,” said Secretary of the Treasury Scott Bessent. “Treasury will not tolerate any support to the regime and will continue to identify, expose, and isolate Iran’s enablers.”
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.
OFAC is taking this action pursuant to Executive Order (E.O.) 13382, which targets proliferators of weapons of mass destruction (WMD) and their means of delivery. In October 2007, the U.S. Department of State designated MODAFL and Iran’s Islamic Revolutionary Guard Corps (IRGC) pursuant to E.O. 13382 in connection with Iran’s ballistic missile program.
OPERATION ECONOMIC OUTCAST IS ISOLATING THE IRANIAN REGIME
Announced by Secretary Bessent on August 24, 2026 and dubbed “Economic D-Day,” Operation Economic Outcast is severing the remaining economic lifelines that sustain the Iranian regime. Treasury has mapped the networks, facilitators, and financial channels that Iran uses to smuggle oil, evade sanctions, and fund terror. Working with partners across the U.S. government, the European Union, United Kingdom, Gulf partners, and others, Treasury is targeting any source of the regime’s illicit revenue.