TREASURY SANCTIONS AVIATION PLAYERS TIED TO IRANIAN REGIME
May 14, 2026
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On April 21, 2026, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) announced significant sanctions against individuals, entities, and aircraft based in Iran, Turkey, and the United Arab Emirates due to their purported involvement in procuring and/or transporting weapons on behalf of the Iranian regime. Mahan Air, an Iranian airline and subsidiary of the Iran-based Sepehr Kaveh Kish International Trading Company, was identified as one such entity which continues to transport weapons to and from Iran. Given that OFAC named two Boeing 777-200s, with registrations EP-MTE and EP-MTB, as being owned and operated by Mahan Air, those within the aviation industry should take note and avoid any commercial or financial transactions involving Mahan Air and/or any assets it may hold under U.S. jurisdiction. Please be advised that U.S. and foreign persons who are found to have violated OFAC’s regulations are subject to serious civil or criminal penalties on a strict liability basis. Those involved with the global aviation industry should conduct vigorous due diligence to determine whether a proposed transaction involves any OFAC-sanctioned person, entity, or territory.
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