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The US Treasury Department just added 14 new names to its sanctions blacklist, targeting individuals and companies accused of supporting Iran’s missile and unmanned aerial vehicle programs. The designations, announced on May 5 by the Office of Foreign Assets Control (OFAC), hit operations across three countries and represent the fifth round of punitive measures since the reimposition of UN sanctions on Tehran last September.
What got sanctioned and why
OFAC designated 8 individuals, 4 companies, and 2 aircraft in this latest action. The targets are spread across Iran, Turkey, and the United Arab Emirates.
Among the most notable names: Pishgam Electronic Safeh Company and its CEO, Hamid Reza Janghorbani. The company is accused of playing a role in Iran’s procurement networks for missile and drone technology.
Actors associated with Mahan Air, Iran’s privately owned airline that has been on Washington’s radar for years over allegations of ferrying weapons and military personnel, were also caught in the net. The designations fall under Executive Order 13382, which targets proliferation networks, and Executive Order 13224, which focuses on terrorism financing.
The practical effect is straightforward: all US-held property belonging to these entities is now frozen. Any American individual or company doing business with them faces severe legal consequences. And because of the way secondary sanctions work, non-US companies that transact with these targets risk being cut off from the American financial system too.
The ‘Economic Fury’ campaign in context
This round of sanctions sits within a broader initiative Washington has branded “Economic Fury.” The campaign kicked off after the UN reimposed sanctions on Iran on September 27, 2025, citing violations of Tehran’s nuclear program commitments.
Since then, the cadence has been relentless. OFAC rolled out sanctions on February 6, 2026, followed by another batch on February 25. The May 5 action marks the fifth round in roughly eight months.
The target profile has been consistent across all five rounds: procurement networks, logistics companies, and individuals who help Iran acquire components for its ballistic missile and drone programs. The geographic spread, spanning Iran, Turkey, and the Gulf states, reflects how these networks actually operate across commercial hubs where dual-use goods move freely.
Why crypto should care when crypto isn’t mentioned
Notably, this round of sanctions did not include any cryptocurrency wallet addresses. No Bitcoin addresses, no Ethereum addresses, no stablecoin designations. The targets appear to operate through traditional procurement and financial channels.
OFAC has increasingly added blockchain addresses to its Specially Designated Nationals (SDN) list in recent years, particularly when targeting North Korean and Iranian actors. The fact that this particular action didn’t include crypto wallets doesn’t mean the next one won’t. It means that the specific networks identified here were using conventional banking and trade finance.
For crypto exchanges and compliance teams, screening against the SDN list isn’t optional, and the list is getting longer fast. Any platform operating in Turkey or the UAE, both of which host entities named in these sanctions, needs to be especially vigilant about onboarding and transaction monitoring.
Stablecoin issuers face a particular exposure here. Tether and Circle have both cooperated with law enforcement on sanctions-related freezes in the past. As the US expands its sanctions architecture against Iranian networks, the likelihood of future enforcement actions touching crypto rails increases, even if this specific round stayed in the traditional finance lane.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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