US Sanctions 35 Over Iran Shadow Banking
The United States has imposed sanctions on 35 individuals and entities accused of helping Iran operate a shadow banking network used to move large sums of money and evade sanctions. The action is part of Washington’s wider campaign to restrict Tehran’s access to global financial channels.
US Sanctions Iran Shadow Banking Network
The US Treasury Department said the targeted individuals and entities played a role in Iran’s shadow banking architecture. According to Washington, the network helped move tens of billions of dollars linked to sanctions evasion and financial support for groups designated as terrorist organisations by the United States.
The sanctions aim to block access to the US financial system and restrict dealings with American individuals and businesses. They also increase compliance pressure on foreign firms and banks connected to the targeted network.
Iran Sanctions Evasion Under Scrutiny
US officials said the shadow banking system helps Iran receive payments for oil and other commodities despite existing sanctions. The Treasury said such mechanisms allow Tehran to generate revenue while avoiding formal banking channels.
The latest action follows a series of sanctions targeting Iranian oil shipments, shipping networks, financial facilitators and companies accused of supporting Iran’s military-linked institutions.
US Warns Firms Over Iran Links
Washington also warned companies against making payments or offering support to Iranian entities, including those linked to the Islamic Revolutionary Guard Corps. Firms involved in helping Iran bypass sanctions may face further restrictions.
The move comes amid continuing tensions over Iran’s regional activities, oil exports and financial networks. The sanctions signal that the US will continue using financial pressure to target Iran’s revenue sources and international intermediaries.
