US Imposes New Sanctions, Ramps Up Economic Pressure on Iran
WASHINGTON: The US Treasury Department has announced fresh sanctions targeting what it described as Iran’s “shadow banking” network — a system it says facilitates the transfer and repatriation of funds generated from oil and other exports.According to the Treasury, the new sanctions target front companies linked to Iranian banks, exchange houses, and financial facilitators involved…
WASHINGTON: The US Treasury Department has announced fresh sanctions targeting what it described as Iran’s “shadow banking” network — a system it says facilitates the transfer and repatriation of funds generated from oil and other exports.
According to the Treasury, the new sanctions target front companies linked to Iranian banks, exchange houses, and financial facilitators involved in moving these funds.
US Treasury Secretary Scott Bessent said Washington would impose “the toughest sanctions in history” against Tehran, warning that any countries insisting on continuing business dealings with Iran would also face action.
