U.S. Adds Sanctions on Iran Weapons Procurement Network; Trump Expected to Pressure Defense Industry to Boost Arms Production

[Financial News] The Trump administration has imposed additional sanctions on individuals and entities that helped supply weapons to Iran's military. Trump is also expected to convene executives from U.S. defense contractors later this week, according to reports.
On the 10th local time, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) said it had "sanctioned nine individuals and entities that have supported weapons procurement on behalf of the Islamic Revolutionary Guard Corps (IRGC) and the Ministry of Defense and Armed Forces Logistics (MODAFL)."
The sanctions target four Chinese nationals, four companies based in China and Hong Kong, and one Iranian national. Separately, the U.S. Department of State was also reported to have sanctioned two entities based in Iran and Belarus, along with two individuals, for supporting weapons procurement for Iran.
Earlier, on the 8th of last month, the Trump administration also sanctioned 10 Chinese and Hong Kong companies and individuals involved in supporting Iran's weapons and drone production.
Treasury Secretary Scott Bessent said, "The Treasury Department is disrupting foreign procurement networks that support the Iranian military's efforts to acquire weapons through Operation Economic Arrogance," adding, "We will not tolerate any support for the Iranian military."
Trump is reportedly set to gather executives from major U.S. defense contractors later this week to discuss ways to expand weapons production. NBC reported, citing sources, that the meeting is expected to be contentious as concerns grow over U.S. missile supplies. It added that executives from about seven defense companies are likely to face pressure from Trump to "come up with ways to rapidly increase weapons production for the Ministry of National Defense."
So far, U.S. forces in the Iran war have rapidly depleted missiles and interceptors to a degree that surprised some defense officials, raising concerns about ammunition stockpiles. Defense Secretary Pete Hegseth has continued to dismiss those concerns, but military officials, outside experts and lawmakers have pointed to a weakening of U.S. self-defense capabilities against other adversaries. Trump has also reportedly expressed anger to aides and close associates over the decline in U.S. weapons stockpiles.
whywani@fnnews.com Hong Chaewan Reporter