Treasury OFAC Grounds Iran’s Remaining Airlines Under Operation Economic Outcast
Treasury OFAC sanctions 36 targets under Operation Economic Outcast, including 27 Iranian airlines under E.O. 13902. Bessent warns anyone doing business with Iran’s remaining carriers risks being cut off from the global financial system.
E
Editor
Sep 8, 2026 · 55m ago
2 min read5 views
Under Operation Economic Outcast, the U.S. Treasury’s Office of Foreign Assets Control sanctioned 36 targets for supporting Iran’s aviation sector — which the regime uses to move weapons, personnel, and illicit cargo — according to a Treasury press release dated September 8, 2026. The same day’s OFAC recent actions list the SDN additions and general-license updates.
“Today, we followed through on that promise with sanctions on companies that continue to support Mahan Air. Let this be a warning to anyone doing business with Iran’s remaining airlines, all of which we sanctioned today: You are at risk of being cut off from the global financial system,” said Treasury Secretary Scott Bessent.
27 Iranian airlines under EO 13902
OFAC is designating 27 Iranian airlines pursuant to E.O. 13902 for operating in Iran’s aviation sector, leveraging the August 24, 2026 aviation-sector determination. Named carriers include Iran Aseman Airlines, Qeshm Air, Kish Airlines, Zagros Airlines, Saha Airlines, Iran Air Tour, Ata Airlines Company, Sepehran Airlines, and Varesh Airlines, among others on the Treasury list.
Mahan Air is not a new designation here: OFAC designated Mahan on October 12, 2011 under E.O. 13224, and the State Department designated it under E.O. 13382 in December 2019. Today’s action builds on April and July 2026 steps targeting persons servicing Mahan’s flights.
OFAC also designated third-country firms under E.O. 13224 tied to Mahan facilitation. In summer 2026, Mahan received at least three B-777 aircraft diverted through the UAE and Oman, with UAE-based ECT Aviation Support LLC and Türkiye-based Sky Phoenix as intermediaries. Also designated: UK-based ECT Aviation Support LTD; Egyptian national Ibrahim Ali Mohamed Mohamed Mahran (CEO/owner of ECT UAE); UAE Aerobravo Airplane Management; Türkiye S Sistem and Mes Cargo; Malaysia Icargo; and Kazakhstan Tour Invest.
FinCEN is issuing an Alert asking financial institutions to report procurement networks supporting Iran’s aviation industry. Concurrently, OFAC is suspending Iran-related aviation authorizations that allowed overflights and non-U.S. airlines to fly U.S.-origin or U.S.-controlled commercial aircraft into Iran — including suspension of Iran General License J-1 as of September 8, 2026 — and is issuing Iran General License DD and Counter Terrorism General License 37 for wind-downs. Aviation safety-related requests will be considered case-by-case.
NY Fed August SCE: mean unemployment expectations rise to 44.4%, highest since April 2020. One-year inflation expectations hold at 3.6%; three-year edges to 3.2%; gas price expectations jump to 4.6%.
Qatar posts a Q2 budget deficit of 21.2 billion riyals ($5.8B), the widest in nearly a decade, as Hormuz disruption ties up gas trade. LNG exports plunge; Hormuz is not reopened.