The US designated 35 entities linked to Iran’s shadow banking network, aiming to cut off a financial lifeline funding the Iranian regime’s military and missile programs. This action targets companies involved in circumventing sanctions, including UK-based Shuqun LTD. The Treasury also issued guidance warning of significant sanctions risk for paying ‘tolls’ to Iran or the IRGC for passage through the Strait of Hormuz.
The U.S. Treasury Department has imposed sanctions on 35 entities involved in Iran’s shadow banking network and weapons financing. This action exposes a complex network facilitating billions of dollars to Iran’s armed forces and proxy groups. The Treasury warned of potential expanded sanctions on companies facilitating payments to Iran through the Strait of Hormuz.
The United States imposed sanctions on 35 individuals and entities allegedly involved in Iran’s sanctions evasion activities. It specifically warned banks about transactions related to payments for passage through the Strait of Hormuz and targeted Chinese refineries involved in Iranian oil trade. This action aims to disrupt Iran’s financial networks and exert economic pressure.