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US Treasury Imposes New Sanctions on Iran’s Shadow Banking Networks
(MENAFN) The United States Department of the Treasury unveiled fresh sanctions on Friday aimed at dismantling elements of what officials describe as Iran’s covert financial system, according to reports.
In an official statement, the department noted that its Office of Foreign Assets Control (OFAC) had blacklisted three Iranian currency exchange firms along with affiliated front companies believed to support their operations.
Authorities claim that such exchange houses are responsible for handling billions of dollars in foreign currency transactions annually, helping sustain financial flows.
“Iran is the head of the snake for global terrorism, and under President (Donald) Trump’s leadership, Treasury is moving aggressively, through Economic Fury, to sever the Iranian military’s financial lifelines,” said Scott Bessent, referencing the broader campaign linked to the conflict launched on Feb. 28 involving Donald Trump and Israel against Iran, which is currently paused under a ceasefire to support negotiations.
“We will relentlessly target the regime’s ability to generate, move, and repatriate funds, and pursue anyone enabling Tehran’s attempts to evade sanctions,” Bessent added.
In an official statement, the department noted that its Office of Foreign Assets Control (OFAC) had blacklisted three Iranian currency exchange firms along with affiliated front companies believed to support their operations.
Authorities claim that such exchange houses are responsible for handling billions of dollars in foreign currency transactions annually, helping sustain financial flows.
“Iran is the head of the snake for global terrorism, and under President (Donald) Trump’s leadership, Treasury is moving aggressively, through Economic Fury, to sever the Iranian military’s financial lifelines,” said Scott Bessent, referencing the broader campaign linked to the conflict launched on Feb. 28 involving Donald Trump and Israel against Iran, which is currently paused under a ceasefire to support negotiations.
“We will relentlessly target the regime’s ability to generate, move, and repatriate funds, and pursue anyone enabling Tehran’s attempts to evade sanctions,” Bessent added.
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