The United States imposes sanctions on companies and individuals in China and Hong Kong, accusing them of supporting Iran’s military procurement efforts, including purchases of materials used for Shahed-series drones and ballistic missile programs. The Treasury and State departments announce the measures on Friday, targeting entities described as enabling Iran’s military to secure weapons or raw materials with applications in the Shahed drone program and related missile activities. Multiple reports say the action includes firms based in mainland China and Hong Kong, as well as support roles such as intermediaries and suppliers of components used in weapons research and flight testing. Reuters and other outlets identify several named targets, including Yushita Shanghai International Trade Company and Hitex Insulation Ningbo Company, whose legal representative, Li Genping, is also sanctioned. A Hong Kong-based intermediary company, HK Hesin Industry Company, is also listed in coverage. Additional reporting extends the scope of the broader sanctions network beyond China and Hong Kong to entities in other countries, including the United Arab Emirates and Belarus. Several outlets note the timing ahead of President Donald Trump’s planned visit to China and the expectation that Iran may feature in discussions with President Xi Jinping.
US sanctions Chinese and Hong Kong firms tied to Iran drone and missile supply
The United States imposes sanctions on companies and individuals in China and Hong Kong, accusing them of supporting Iran’s military procurement efforts, including purchases of materials used for Shah...
- The US Treasury and State departments announce sanctions targeting Chinese and Hong Kong entities accused of supporting Iran’s weapons procurement.
- Targeted activities include helping Iran obtain weapons and raw materials used for Shahed drones and ballistic missile programs.
- Named mainland China targets mentioned in coverage include Yushita Shanghai International Trade Company and Hitex Insulation Ningbo Company; Hitex’s legal representative, Li Genping, is also sanctioned.
- Hong Kong-based entities mentioned include HK Hesin Industry Company, described as acting as an intermediary in procurement.
- Several outlets link the timing to President Donald Trump’s upcoming visit to China and heightened US pressure on Iran.
The U.S. Treasury move follows sanctions announced on Friday (May 8, 2026) on individuals and companies aiding Iranian purchases of weapons and components used to make drones and ballistic missiles
3 months agoThe US government sanctions three people and nine companies, including four based in Hong Kong and four in the UAE.
3 months agoThe United States imposed sanctions on 12 individuals and companies accused of helping Iran export oil to China through front firms. The move comes as Washington intensifies economic pressure alongside its conflict with Tehran and ahead of President Donald Trump’s visit to Beijing, where Iran is expected to feature prominently on the agenda.
3 months agoWASHINGTON, May 11 (Reuters) - The U.S. government on Monday announced sanctions against three people and nine companies, including four based in Hong Kong and four in the United Arab Emirates, for aiding Iran's shipment of oil to China. The ninth company is based in Oman.The Treasury move follows sanctions announced on Friday on individuals and companies aiding Iranian purchases of weapons and components used to make drones and ballistic missiles.
3 months agoThe United States has sanctioned nine mainland Chinese and Hong Kong companies and individuals, accusing them of helping Iran's military. The decision, which risks complicating Donald Trump's visit to China next week, was announced on Friday by the Treasury and State departments. A Treasury Department press release said those targeted were "enabling efforts by Iran's military to secure weapons" or securing "raw materials with applications in Iran's Shahed‑series unmanned aerial vehicles and ballistic missile program". The Treasury sanctions target five firms and one individual. They include the mainland China-based Yushita Shanghai International Trade Company, which is accused of helping Tehran to buy arms. Meanwhile, Hitex Insulation Ningbo Company is accused of supplying millions of dollars' worth of materials used in ballistic missile research and flight test launches. Its legal representative, Li Genping, was also sanctioned. Hong Kong-based HK Hesin Industry Company is accused of working as an intermediary in procurements, while Mustad Limited, also based in the city, is accused of
3 months agoThe moves target 11 entities and three individuals based in Iran, China, Belarus and the United Arab Emirates.
3 months ago
Wesfarmers reports higher earnings as Bunnings “everyday low prices” help retail performance
Wesfarmers, the industrial group that owns Bunnings Warehouse, reports improved earnings, with the company attributing p...
Finance chief Stavro D’Amore jailed over laundering $75 million for drug trafficker
Stavro D’Amore, a fallen finance executive, agrees to help a Sydney-based drug trafficker launder about $75 million. Rep...
Flash floods in Nepal near Tibet leave dozens dead and many Indians missing
A flash flood in Nepal’s Nuwakot and Dhading districts is reported to have killed people and left large numbers of India...