Treasury expands ‘Economic Outcast’ operation to block Iran missile funding

In a latest round of sanctions, the U.S. Treasury announced that secondary measures will be applied to entities that assist Iran's Ministry of Defence and Armed Forces Logistics (MODAFL). Among those listed are a Pakistani businessman, his three associated companies, and two Saudi‑based affiliates tied to the Cavellier Group. The Treasury says these parties provided financial, material and technological assistance that could aid Iran's ballistic missile and drone programmes.

Secretary of the Treasury Scott Besen stated that the Economic Outcast operation will keep targeting networks that enable Iran to evade existing sanctions, fund extremist activities and sustain its defence projects. The statement warned that any organization found laundering money or facilitating sanctions evasion could face exclusion from the U.S. financial system and additional secondary sanctions.

No comment has been made by the accused companies.