US Treasury sanctions 10 firms aiding Iran drones
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- U.S. Treasury announced sanctions on 10 individuals and companies, including several in China and Hong Kong, for helping Iran's military acquire weapons and raw materials for Shahed drones.
- Treasury warned it will impose secondary sanctions on foreign financial institutions that facilitate Iran's illicit commerce, specifically targeting firms linked to China's independent "teapot" oil refineries.
- Scott Bessent said the actions reflect President Trump's decisive leadership and the U.S. commitment to keep America safe from Iran‑provided weapons.
- President Donald Trump is slated to meet President Xi Jinping in China days after the sanctions, as diplomatic efforts to end the war with Iran have stalled.
Why it matters: Iran's weapons network loses access to financing and materials, while U.S. firms and allied financial institutions face risk of secondary sanctions; the move pressures China‑linked firms and signals tougher enforcement before Trump's China summit.
