United States Targets Network Facilitating Iran’s Transfer of Hundreds of Millions of Dollars Through the International Financial System

Washington, Aug 7 (KUNA) – The United States on Friday imposed sanctions on a network of exchange houses and shell companies accused of helping Iran circumvent sanctions by facilitating the transfer of hundreds of millions of dollars through the international financial system. State Department spokesperson Tommy Pigott said in a statement that “the sanctions were imposed by the U.S. Department of the Treasury, which today took steps to dismantle a network of exchange houses and shell companies that helped Iran secretly transfer hundreds of millions of dollars through the international financial system.” Pigott added that his country is “taking decisive action to cut off the financial lifeline that fuels Iran’s ruling elite.” He clarified that “Tehran has been able, through these networks, to access oil revenues and circumvent sanctions aimed at curbing its destabilizing activities by laundering money using front companies.” He stressed that today’s action demonstrates the continued commitment of President Donald Trump’s administration to “exert maximum pressure on Iran by cutting off the resources the regime uses to threaten regional stability, support terrorism, and enhance its military capabilities.” Pigott emphasized that the United States “clearly affirms that by targeting banks, exchange houses, and individuals who facilitate this illicit system, those who help Iran evade sanctions will face severe consequences.” (End) R.S.R./F.A.S.