U.S. State Department: Cutting off Iran's illicit cash funding lifeline

The U.S. Department of State announced new measures aimed at cutting off the illicit cash financing lifeline to Iran, affirming that these actions will dismantle a network of exchange companies and shell firms that helped Tehran transfer hundreds of millions of dollars.

The department clarified that the targeted entities enabled Iran to access oil revenues and circumvent U.S. sanctions, stressing that anyone assisting Tehran in evading sanctions will face “severe consequences.”

Washington reaffirmed its commitment to working with partners to close off funding channels for activities it described as destabilizing, noting that the new measures will further isolate the Iranian regime from the international financial system.

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It added that Iran’s continued support for terrorism and regional aggression will incur a “heavy and ongoing price.”