US Treasury Imposes New Sanctions Targeting Iran's Funding Networks
- Confirmed the identification of intermediaries and channels used to smuggle oil and circumvent sanctions
- Bessent: Committed to cutting off every remaining economic artery to Tehran and ending the threat posed by the Iranian regime
The US Treasury Department announced on Friday the imposition of new sanctions related to Iran, as part of efforts to intensify economic pressure on Tehran and target the networks and channels it uses to circumvent sanctions.
The Treasury stated that it has identified the networks, intermediaries, and channels used by Iran to smuggle oil and evade sanctions, emphasizing that it is targeting, in coordination with US government agencies and allies, any source of illicit revenue for the Iranian regime.
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It added that Iran uses parallel banking networks to move and launder funds, purchase weapons, and finance its allies in the region, noting that the "economic pariah" campaign has expanded the scope of sanction risks facing entities that choose to continue commercial dealings with Tehran.
US Treasury Secretary Scott Bessent said the United States is committed to cutting off what he described as "every remaining economic artery" to Tehran and working to end the threat posed by the Iranian regime.
As part of the new measures, the Treasury imposed sanctions on an individual linked to the Iranian banking sector and a Hong Kong-based company, following allegations of facilitating financial transactions on behalf of sanctioned Iranian entities.
The US administration is also moving to impose restrictions on banking branches operating in a Gulf state due to transactions Washington said were linked to Iranian financial networks. If finalized, the measures would include barring those branches from accessing correspondent banking services with US financial institutions.
These measures come within a broader US campaign to tighten financial isolation on Iran and hinder its ability to generate revenue and move funds through external networks.
