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3-MO 3.83% -7bp 6-MO 3.97% -10bp 1-YR 4.04% -5bp 2-YR 4.22% -4bp 3-YR 4.29% -2bp 5-YR 4.37% +2bp 7-YR 4.51% +4bp 10-YR 4.67% +6bp 20-YR 5.21% +10bp 30-YR 5.20% +11bp 3-MO 3.83% -7bp 6-MO 3.97% -10bp 1-YR 4.04% -5bp 2-YR 4.22% -4bp 3-YR 4.29% -2bp 5-YR 4.37% +2bp 7-YR 4.51% +4bp 10-YR 4.67% +6bp 20-YR 5.21% +10bp 30-YR 5.20% +11bp 3-MO 3.83% -7bp 6-MO 3.97% -10bp 1-YR 4.04% -5bp 2-YR 4.22% -4bp 3-YR 4.29% -2bp 5-YR 4.37% +2bp 7-YR 4.51% +4bp 10-YR 4.67% +6bp 20-YR 5.21% +10bp 30-YR 5.20% +11bp 3-MO 3.83% -7bp 6-MO 3.97% -10bp 1-YR 4.04% -5bp 2-YR 4.22% -4bp 3-YR 4.29% -2bp 5-YR 4.37% +2bp 7-YR 4.51% +4bp 10-YR 4.67% +6bp 20-YR 5.21% +10bp 30-YR 5.20% +11bp 3-MO 3.83% -7bp 6-MO 3.97% -10bp 1-YR 4.04% -5bp 2-YR 4.22% -4bp 3-YR 4.29% -2bp 5-YR 4.37% +2bp 7-YR 4.51% +4bp 10-YR 4.67% +6bp 20-YR 5.21% +10bp 30-YR 5.20% +11bp 3-MO 3.83% -7bp 6-MO 3.97% -10bp 1-YR 4.04% -5bp 2-YR 4.22% -4bp 3-YR 4.29% -2bp 5-YR 4.37% +2bp 7-YR 4.51% +4bp 10-YR 4.67% +6bp 20-YR 5.21% +10bp 30-YR 5.20% +11bp
US Treasury par yield curve · Jul 29 · Source: U.S. Treasury
Thursday, July 30, 2026
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Designations

Treasury has sanctioned the travel agents that sell tickets and cargo space for Mahan Air in China, India and Russia

Money & World
The Editorial Team ·
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Somebody has to sell the tickets.

That is the premise of Thursday's action, and the Treasury release spells it out before it names anybody: a general sales agent provides an airline with sales and customer support services and deals with freight forwarders and shippers on the airline's behalf. Mahan Air has been under United States sanctions since October 2011. Its sales agents, until Thursday, were not.

Six entities and individuals in China, India, Russia and Iran were designated by the Office of Foreign Assets Control under Executive Order 13224, the counterterrorism authority.

The agents

Treasury named Shanghai Wings International Logistics Co, which it says serves as a general sales agent for Mahan Air and has coordinated the transport of electronics from China to Iran. It named Tang Xin, the managing director of that company, who Treasury says has coordinated travel for the airline and is the executive director and half owner of Shanghai Elite International Travel Co, a second Chinese company Treasury says also represents Mahan Air. Shanghai Elite was designated for being owned or controlled by Tang Xin rather than for anything Treasury attributes to the company itself.

The other two agents are Skiez Travels and Logistics Private Limited, in India, and Air Cargo Pro Limited, in Russia.

The sixth name is not a travel company

DadeNegar Startup Studio is described in the release as a front company affiliated with the Islamic Revolutionary Guard Corps that supported military targeting through a website. Treasury says it solicited the locations of American and Israeli equipment, and that in coordination with the Guard it received strike requests for United States targets in the Middle East.

Those are Treasury's characterisations, made in a designation notice. No court has examined them.

Where the reach is

The blocking provisions are the standard ones. Property and interests in property in the United States or in the possession of United States persons are frozen, and anything owned 50 percent or more in the aggregate by blocked persons is blocked automatically, whether or not it appears on a list.

The paragraph with the longest reach is the one addressed to nobody in particular. OFAC states that foreign financial institutions knowingly conducting or facilitating significant transactions on behalf of designated parties can have their United States correspondent accounts restricted or prohibited, and that its civil penalties are imposed on a strict liability basis.

Scott Bessent, the Treasury secretary, said in the release that firms providing "financial services, logistics, or commercial support to the IRGC or Mahan Air are helping sustain a terrorist enterprise."

The release sets the action in the context of Iranian attacks on regional states and on commercial vessels in the Strait of Hormuz, which is the same waterway where this desk has been tracking an incident log that has recorded nothing new since 27 July.

The document: U.S. Department of the Treasury, press release sb0582, 'Treasury Cracks Down on Global Networks Enabling Iran's Mahan Air and IRGC', dated on the page July 30, 2026. Retrieved by this desk from home.treasury.gov on 30 July 2026 with browser headers, HTTP 200, tags stripped and the body read in full; note the runbook rule that the host must be home.treasury.gov, because treasury.gov and www.treasury.gov silently drop the path. Lede, verbatim: 'WASHINGTON - Today, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is designating six entities and individuals in China, India, Russia, and Iran, including multiple companies serving as general sales agents for the U.S.- and European Union-sanctioned Iranian airline Mahan Air.' Standfirst on the page: 'Mahan Air serves as a critical conduit for the IRGC's movement of weapons, operatives, and military equipment worldwide.' Quotation attributed on the page to Secretary of the Treasury Scott Bessent, verbatim and reproduced in the brief in part: 'Those who provide financial services, logistics, or commercial support to the IRGC or Mahan Air are helping sustain a terrorist enterprise. Treasury will continue to identify them, expose them, and cut them off from the U.S. financial system.' Authority paragraph, verbatim: 'OFAC is taking this action pursuant to Executive Order (E.O.) 13224, as amended, which targets terrorist groups, their supporters, and those who aid acts of terrorism, and in furtherance of the President's National Security Presidential Memorandum 2 (NSPM-2)'. Historical designations as stated in the release: Mahan Air designated under E.O. 13224 on October 12, 2011, for providing support to the IRGC-Qods Force, which OFAC designated under E.O. 13224 in October 2007; the State Department designated the IRGC under E.O. 13382 in 2007; OFAC designated the IRGC under E.O. 13224 in October 2017. Definition, verbatim: 'A general sales agent provides a given airline with sales and customer support services and communicates with freight forwarders and shippers on the airline's behalf.' Named parties, verbatim: 'China-based Shanghai Wings International Logistics Co (Shanghai Wings) is serving as a general sales agent for Mahan Air and has coordinated the transport of electronics from China to Iran. China-based Tang Xin is the managing director of Shanghai Wings and has coordinated travel for Mahan Air. Tang Xin is the executive director and 50 percent owner of China-based Shanghai Elite International Travel Co (Shanghai Elite), which also represents Mahan Air in China. India-based Skiez Travels and Logistics Private Limited (Skiez Travels) and Russia-based Air Cargo Pro Limited (Air Cargo Pro) also serve as general sales agents for Mahan Air in India and Russia, respectively.' Designation bases, verbatim: Shanghai Wings, Tang Xin, Skiez Travels and Air Cargo Pro under E.O. 13224 as amended 'for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Mahan Air'; Shanghai Elite 'for being owned, controlled, or directed by, or having acted or purported to act for on behalf of, directly or indirectly, Tang Xin'. Front company paragraph, verbatim: 'Today, OFAC is also designating DadeNegar Startup Studio (DadeNegar). DadeNegar is a front company affiliated with Iran's IRGC, supporting military targeting through the use of a website. DadeNegar solicited locations of American and Israeli equipment to support Iranian military targeting. In coordination with the IRGC, DadeNegar received strike requests for U.S. targets in the Middle East.' Sanctions implications section read in full, including the 50 percent aggregate ownership rule, strict liability civil penalties, secondary sanctions exposure for foreign financial institutions, correspondent and payable-through account restrictions, and the FinCEN whistleblower programme threshold of monetary penalties 'exceeding $1,000,000'. Six named parties counted against the release's own figure of six and they agree: Shanghai Wings, Tang Xin, Shanghai Elite, Skiez Travels, Air Cargo Pro, DadeNegar. Every characterisation of conduct in this brief is Treasury's, stated as Treasury's, and none is asserted by this publication. Release read end to end 30 July 2026. Adjacent release sb0581, on the Strait of Hormuz marine insurers, is a separate action already covered by this desk and is not the subject of this brief..

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