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The US Treasury just added six more names to its ever-growing sanctions list, this time targeting entities and individuals across four countries tied to Iranian airline Mahan Air. The designations hit companies and people in China, India, Russia, and Iran, all allegedly connected to the airline’s role in supporting Iranian missile and unmanned aerial vehicle procurement networks.
Mahan Air has been on Washington’s naughty list since October 12, 2011. The airline was originally designated by the Office of Foreign Assets Control under Executive Order 13224 for its alleged support of Iran’s Islamic Revolutionary Guard Corps-Qods Force.
What the new sanctions actually target
The fresh round of designations is part of a broader effort OFAC has branded “Economic Fury,” aimed at dismantling Iranian missile and UAV procurement networks.
On April 21, 2026, OFAC sanctioned several Mahan Air-linked entities and individuals under this initiative. Among those named were Sepehr Kaveh Kish, described as an owner and controller of Mahan Air, along with Mohammad Hossein Mahdian and a company called Chabok FZCO.
This isn’t new territory for OFAC. In 2020, the agency designated UAE-based Parthia Cargo and Delta Parts Supply FZC for providing parts and logistics support to Mahan Air. Past sanctions have also reached into China, targeting entities like Shanghai Saint Logistics, a general sales agent that allegedly helped keep Mahan Air’s commercial operations humming.
The ‘maximum pressure’ playbook
Mahan Air isn’t just an airline in this context. US officials have long alleged it serves as a logistics backbone for the IRGC-QF, facilitating the transport of military personnel, arms, and funds across the Middle East and beyond.
What this means for investors
No digital asset wallets were flagged in connection with these sanctions. No blockchain-based evasion schemes were cited. OFAC’s action relied entirely on traditional financial sanctions mechanisms.
OFAC designated Tornado Cash in 2022, proving it was willing to sanction smart contracts, not just people and companies. Every new round of traditional sanctions creates precedent and infrastructure that could eventually be applied to crypto-native entities.
Investors in aerospace, defense, and international logistics companies should pay particularly close attention. These sanctions can create secondary liability for any firm that unknowingly transacts with a designated entity. The multi-jurisdictional nature of the latest designations, spanning China, India, Russia, and Iran, means that supply chains touching any of these countries face heightened compliance risk.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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