U.S. Treasury sanctions Iranian procurement network over defense fraud

The U.S. Treasury announced a new sanctions package targeting an Iranian procurement network led by Ali Majd Sepahr. The measures sanction eight individuals and five entities accused of fraudulently posing as American companies to obtain U.S.-origin defense and dual‑use items for the Iranian military.

Under Executive Order 13224, the Treasury froze roughly $500 million in cryptocurrency assets linked to the network and prohibited any U.S. persons from dealing with the listed parties. The sanctions also warn foreign financial and maritime firms against facilitating Iranian payments for transit through the Strait of Hormuz, threatening secondary penalties.

The action is part of the administration’s "Economic Anger" campaign designed to tighten financial pressure on Tehran and disrupt supply chains supporting Iran’s defense and oil sectors.