Washington Imposes Sanctions on Entities Linked to Iran for Facilitating Sanctions Evasion via Digital Assets
صورة: وكالة الأنباء الكويتية (كونا)
The US Treasury Department announced sanctions on eight Iranian companies providing digital asset services to help the Iranian regime circumvent financial sanctions and transfer funds through cryptocurrencies.
Translated by Qiyas from كونا — Original source
Washington, Nov 6 (KUNA) – The U.S. Department of the Treasury announced on Friday the imposition of sanctions on eight companies linked to Iran that provide digital asset services, accusing them of helping the Iranian regime and other sanctioned entities circumvent U.S. financial restrictions and transfer funds to and from Iran via cryptocurrencies.
In a statement, the Treasury said these companies convert Iranian rials and other currencies into digital assets, enabling sanctioned entities to move money through digital financial channels. It noted that some of these companies transferred funds to digital asset accounts linked to the Islamic Revolutionary Guard Corps and terrorist activities.
The statement added that “several of the companies deal with Iranian cryptocurrency trading platforms that Washington has previously sanctioned, while other companies have changed their names and addresses to evade detection of their activities, despite warnings and public reports regarding the risks associated with them.”
It clarified that this step is part of the “Economic Outlaw” operation, aimed at reducing the revenues the Iranian regime uses to fund terrorism, proliferate weapons, and support its affiliated groups in the Middle East. It also noted that this action complements U.S. sanctions imposed earlier this year on Iranian digital asset trading platforms, emphasizing that any entity worldwide that assists Tehran in evading U.S. financial sanctions will be held accountable.
The Treasury explained that Washington coordinated these measures with Canada, including the Financial Intelligence Unit of Canada, as part of cooperation to protect the North American financial system from exploitation in illicit activities. It pointed out that some of the targeted companies were also involved in laundering proceeds from drug trafficking, underscoring the overlap of illicit financial networks serving Iranian entities and criminal organizations. It reaffirmed continued cooperation with international partners to uncover and disrupt these networks. (End) A.M.M./M.M.J
