The U.S. Treasury Department has imposed sweeping new sanctions on over 30 individuals and entities accused of facilitating Iran’s covert efforts to evade sanctions and launder billions from oil and petrochemical sales. According to the department, these actors helped fund Iran’s nuclear and missile programs through a clandestine “shadow banking” network using front companies in jurisdictions like Hong Kong and the United Arab Emirates.
The sanctions freeze any U.S.-based assets and prohibit American citizens from engaging in business with the designated individuals and companies. More significantly, they also hinder the ability of the sanctioned parties to conduct transactions globally, particularly those involving the U.S. dollar.
U.S. officials say the operation was deliberately designed to bypass existing sanctions, obscure the true origin of Iranian oil revenues, and redirect the funds toward military-linked projects. The action underscores Washington’s continued efforts to dismantle financial pipelines supporting Iran’s weapons development.
These developments come amid ongoing negotiations between the U.S. and Iran over the future of Tehran’s nuclear program. President Donald Trump has reaffirmed that his administration will not allow Iran to obtain nuclear weapons, stating that military options remain under consideration if diplomacy fails.
Iran continues to claim its nuclear activities are exclusively for civilian use, but the U.S. remains skeptical in light of intelligence suggesting otherwise.
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