Ahead of Trump-Xi Meeting, US Sanctions Iran Weapons Supply Chain, Including Chinese and Hong Kong Companies
Ahead of the Trump-Xi meeting, the US Treasury Department sanctioned 10 individuals and entities, including Chinese and Hong Kong companies, for assisting Iran in procuring raw materials for its weapons, drones, and missiles.
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- 📰 Published: May 9, 2026 at 11:10
- 🔍 Collected: May 9, 2026 at 11:31 (21 min after Published)
- 🤖 AI Analyzed: May 9, 2026 at 11:47 (15 min after Collected)
Central News Agency
(Central News Agency, Taipei, 9th) Ahead of the Trump-Xi meeting, the US Treasury Department announced on the 8th local time that it had sanctioned 10 individuals and entities, including several companies located in China and Hong Kong. These companies are accused of assisting Iran in acquiring weapons and raw materials needed to manufacture "Shahed" drones and missiles.
Reuters reported the above from Washington on the 8th. The US Treasury Department's latest action comes as US President Trump is expected to visit China on the 14th and 15th and hold talks with Chinese President Xi Jinping; at the same time, US-Iran negotiations have stalled, and the two sides briefly exchanged fire on the 7th.
The US Treasury Department's statement said that to prevent Tehran from rebuilding its production capacity, it is still prepared to take economic action against Iran's military-industrial base and will also take action against any foreign companies, including airlines, that support Iran's illicit commercial activities; in addition, secondary sanctions may also be imposed on foreign financial institutions that assist Iran in related activities, including financial institutions related to Chinese small and medium-sized private refineries.
The Chinese and Hong Kong companies on this sanctions list include China's "Yushita Shanghai International Trade Co Ltd," which the US accuses of assisting Iran in purchasing weapons from China; China's "Hitex Insulation Ningbo Co Ltd" is accused of supplying materials used in missiles; Hong Kong companies include "HK Hesin Industry Co Ltd," accused of acting as an intermediary in related procurement, and Mustad Ltd, suspected of assisting the Iranian Islamic Revolutionary Guard Corps in procuring weapons.
Other sanctioned companies include Elite Energy FZCO in Dubai, suspected of transferring millions of dollars to a Hong Kong company to assist in related procurement; Armory Alliance LLC in Belarus, accused of acting as an intermediary in the procurement process; and Pishgam Electronic Safeh Co in Iran, accused of procuring motors for drones.
According to the UK government-funded Centre for Information Resilience, Iran is a major drone manufacturer with an industrial capacity to produce approximately 10,000 drones per month.
Brett Erickson, managing director of risk consulting firm Obsidian Risk Advisors, said that these sanctions remain relatively narrow in scope, giving Iran more time to adjust and shift its procurement routes to other suppliers.
Erickson also said that the US Treasury Department has not yet taken action against Chinese banks that maintain Iran's economy. (Editors: Chou Hui-ying / Chen Kai-yu) 1150509
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(Central News Agency, Taipei, 9th) Ahead of the Trump-Xi meeting, the US Treasury Department announced on the 8th local time that it had sanctioned 10 individuals and entities, including several companies located in China and Hong Kong. These companies are accused of assisting Iran in acquiring weapons and raw materials needed to manufacture "Shahed" drones and missiles.
Reuters reported the above from Washington on the 8th. The US Treasury Department's latest action comes as US President Trump is expected to visit China on the 14th and 15th and hold talks with Chinese President Xi Jinping; at the same time, US-Iran negotiations have stalled, and the two sides briefly exchanged fire on the 7th.
The US Treasury Department's statement said that to prevent Tehran from rebuilding its production capacity, it is still prepared to take economic action against Iran's military-industrial base and will also take action against any foreign companies, including airlines, that support Iran's illicit commercial activities; in addition, secondary sanctions may also be imposed on foreign financial institutions that assist Iran in related activities, including financial institutions related to Chinese small and medium-sized private refineries.
The Chinese and Hong Kong companies on this sanctions list include China's "Yushita Shanghai International Trade Co Ltd," which the US accuses of assisting Iran in purchasing weapons from China; China's "Hitex Insulation Ningbo Co Ltd" is accused of supplying materials used in missiles; Hong Kong companies include "HK Hesin Industry Co Ltd," accused of acting as an intermediary in related procurement, and Mustad Ltd, suspected of assisting the Iranian Islamic Revolutionary Guard Corps in procuring weapons.
Other sanctioned companies include Elite Energy FZCO in Dubai, suspected of transferring millions of dollars to a Hong Kong company to assist in related procurement; Armory Alliance LLC in Belarus, accused of acting as an intermediary in the procurement process; and Pishgam Electronic Safeh Co in Iran, accused of procuring motors for drones.
According to the UK government-funded Centre for Information Resilience, Iran is a major drone manufacturer with an industrial capacity to produce approximately 10,000 drones per month.
Brett Erickson, managing director of risk consulting firm Obsidian Risk Advisors, said that these sanctions remain relatively narrow in scope, giving Iran more time to adjust and shift its procurement routes to other suppliers.
Erickson also said that the US Treasury Department has not yet taken action against Chinese banks that maintain Iran's economy. (Editors: Chou Hui-ying / Chen Kai-yu) 1150509
Choose to stand with facts, every sponsorship you make is a force to protect press freedom.
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The text, images, and audio-visual content of this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.