OFAC expands Economic Fury to China and Hong Kong weapons-procurement networks for IRGC and MODAFL
On 10 June, OFAC sanctioned nine individuals and entities supporting weapons procurement for Iran's IRGC and MODAFL, including China and Hong Kong-based actors, Mustad Shanghai, Domus Trading HK, Solos International and Shangshun Hong Kong.
BY GEOPOLITICS DESK · JUNE 11, 2026 · 1 MIN READ
On 10 June, OFAC sanctioned nine individuals and entities supporting weapons procurement for Iran's IRGC and MODAFL, including China and Hong Kong-based actors, Mustad Shanghai, Domus Trading HK, Solos International and Shangshun Hong Kong. The release also flags secondary-sanctions and correspondent-account risk for foreign financial institutions that facilitate significant transactions for designated parties.
Legal teams advising manufacturers, distributors, banks and logistics companies should refresh China and Hong Kong counterparty screening, procurement red flags, controlled-goods diligence, and voluntary-disclosure protocols for Iran-linked procurement activity.