The United States has announced fresh sanctions targeting individuals and entities linked to Iran, including several in Hong Kong and the United Arab Emirates. The sanctions, revealed by the US Treasury Department on Tuesday, focus on those accused of facilitating financial transactions that support Iran’s military, particularly the Islamic Revolutionary Guard Corps (IRGC)-Quds Force and the Ministry of Defense and Armed Forces Logistics (MODAFL).
These sanctions are part of a broader effort to disrupt Iran’s “shadow banking” systems, which are said to launder funds through overseas front companies and cryptocurrency, evading international sanctions. The Treasury emphasized that these illicit financial networks exploit the global financial system to fund Iran’s military activities.
As is customary with US sanctions, American individuals and companies are prohibited from conducting business with the sanctioned entities and individuals.
