Markets 
The Treasury Department slammed Iran Tuesday by sanctioning 36 targets linked to its aviation sector, which officials said the regime uses to “move weapons, personnel, and illicit cargo.”
Treasury Secretary Scott Bessent said the Trump administration is taking action under Operation Economic Outcast, where the Treasury “promised severe consequences for those providing financial lifelines to the Iranian regime.”
“Today, we followed through on that promise with sanctions on companies that continue to support Mahan Air,” Bessent said, naming one of the country’s largest airlines. “Let this be a warning to anyone doing business with Iran’s remaining airlines, all of which we sanctioned today: You are at risk of being cut off from the global financial system.”
The Treasury Department said Iran’s commercial airlines have “long supported the Iranian regime’s destabilizing activities, with the Islamic Revolutionary Guard Corps using ostensibly private airlines, such as Mahan Air, for the procurement and transport of weapons and the ferrying of personnel.”
TREASURY’S ‘ECONOMIC D-DAY’ AGAINST IRAN COULD FORCE REGIME INTO SITUATION IT ‘FEARS THE MOST,’ EXPERTS SAY
“Today’s action also targeted covert front companies, foreign intermediaries, and deceptive transshipment routes that Iran relies on to obtain U.S.-origin aircraft and sensitive technology,” it added.
The 27 Iranian airlines sanctioned under Tuesday’s actions are: Air Shiraz, Asa Jet Airline, Ata Airlines Company, Atlas Aviation Group, Ava Airlines, Chabahar Airlines Company, Erwan Airline Company, Fly Kish Airlines, Fly Persia Airlines, Iran Air Tour, Iran Aseman Airlines, Jsky Airlines, Kish Airlines, Karun Airlines Company, Lad Airways, Mehr Airways, Nasim Air, Pars Oghyanous Kish Company, Qeshm Air, Raimon Airways, Saha Airlines, Sepehran Airlines, Soroush Air, Taban Airlines, Toos Airlines, Varesh Airlines and Zagros Airlines.
BESSENT VOWS TO ‘ASPHYXIATE’ IRAN ECONOMICALLY, WARNS REGIME’S OFFSHORE ASSETS WILL BE FROZEN
The other sanctions included targeting United Arab Emirates-based ECT Aviation Support LLC (ECT Aviation Support UAE) and Turkey-based Sky Phoenix Hava Yollari Tasimaciligi Ticaret Limited Sirketi (Sky Phoenix), which the Treasury said “served as intermediaries in the scheme to transfer U.S.‑origin aircraft to Mahan Air.”
“Lastly, [the] Office of Foreign Assets Control is taking action against cargo service providers and general sales agents that have serviced Mahan Air’s international flights,” according to the Treasury.
“Turkey-based S Sistem Lojistik Hizmetler Anonim Sirketi (S Sistem) has coordinated shipments, including unmanned aerial vehicle (UAV) components and industrial equipment destined for Iran, on behalf of Mahan Air,” it said in naming one of the sanctioned entities.
Read the full article here
