US Treasury Sanctions Chinese Firms Over Iran Drones
SkimNews Take
The breadth of targets, from material suppliers to satellite imagery, suggests an effort to dismantle Iran's entire drone and missile supply chain rather than merely disrupting specific transactions.
Get the Geopolitics newsletter
Daily geopolitics — wars, elections, sanctions, the diplomatic moves that move markets. Free.
- U.S. Treasury Department announced on May 8 that its Office of Foreign Assets Control (OFAC) designated ten individuals and companies across the Middle East, Asia, and Eastern Europe under its “Economic Fury” campaign against Iran.
- Hitex Insulation Ningbo and its legal representative Li Genping were accused of supplying aerospace‑grade carbon fiber and honeycomb fabric to Iran‑linked Pishgam Electronic Safeh Company.
- Yushita Shanghai International Trade was accused of supporting procurement for Iran’s Center for Progress and Development (CPDI), alongside AE International Trade (HK) and HK Hesin Industry Co Ltd.
- Mustad Ltd was accused of facilitating financial transactions for the Islamic Revolutionary Guard Corps’ procurement of weapons.
- Meentropy Technology Hangzhou (MizarVision) and The Earth Eye Co were accused of providing satellite imagery to support Iran’s military operations.
Why it matters: The sanctions block ten Chinese and Hong Kong entities from US financial channels, hurting their revenue streams and tightening Iran's access to critical drone and missile components ahead of Trump's China trip.
