The United States has imposed sanctions on 22 entities linked to a network engaged in illicit oil trading for the Iranian regime. This network, spanning several jurisdictions, has been involved in transferring funds through foreign front companies to support the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and Tehran's terror campaigns. These activities are said to undermine international peace and security while supporting Iran's ballistic missile programs.
According to Tammy Bruce, Department Spokesperson, "Iran uses front companies based in Hong Kong, United Arab Emirates, and Türkiye as part of this network to help sanctioned Iranian government entities generate revenue from the sale of petroleum and other commodities subject to U.S. sanctions." The current action against Iran's shadow banking network follows previous sanctions aimed at enforcing National Security Presidential Memorandum-2 issued on February 4.
The U.S. remains committed to denying Iran access to financial networks and the global banking system until it ceases its destabilizing activities. "We will promote accountability for those who seek to undermine international peace and security," stated Bruce.
This action is taken under the counterterrorism authority Executive Order (E.O.) 13224, as amended. Further details can be found in the Treasury's press release.