United States Imposes New Sanctions Against Individuals and Companies Linked to Iran

Washington, July 10 (KUNA) -- The U.S. Department of the Treasury announced on Friday the imposition of new sanctions against individuals and companies linked to Iran for their involvement in facilitating international financial transactions for the Iranian regime. In a statement, the Treasury said the new sanctions came in response to Iran’s resumption of attacks on international navigation in the Strait of Hormuz. They targeted an Iranian businessman whom Washington accuses of managing a global network of assets and investments on behalf of figures within the Iranian regime. The statement added that the sanctions also covered three Iranian exchange companies and several of their officials, noting that these firms had transferred billions of dollars annually on behalf of sanctioned Iranian banks through a network of shell companies to conceal the Iranian regime’s financial activities. It further stated that the new sanctions targeted two companies that the Treasury said had used financial fronts to support the operations of those networks. For his part, U.S. Treasury Secretary Scott Bessent affirmed that his country would continue to use all available tools to isolate Iran’s leadership and officials from the global financial system by continuing to target the financial networks that fund Iran’s activities. For its part, the U.S. Department of State said in a separate statement that “the United States is taking decisive action to cut off the financial lifeline that fuels Iran’s ruling elite” through the imposition of the new sanctions. The statement emphasized that by directly targeting those networks, the United States is working to hinder the regime’s ability to obtain foreign currency and conduct international financial transactions. It noted that these measures reflect the commitment of President Donald Trump’s administration to hold accountable anyone who enables the regime to engage in corruption and regional aggression. (End) A.M.M. / M.M.J.