Treasury Sanctions Iran's Shadow Banking Network: 16 People and 10 Entities Designated
WASHINGTON — The U.S. Department of the Treasury announced new Iran-related sanctions on October 15, designating 16 individuals and 10 entities accused of helping Iran evade financial restrictions, move oil revenues and access the international banking system. The action is part of Operation Economic Outcast, a campaign launched in August to dismantle Iran's sanctions-evasion networks.
Treasury said Iraq's International Development Bank for Investment and Finance (IDB) provided Iran with financial services and access to U.S. dollars and maintained connections to Iranian government entities and Iran-aligned militia groups in Iraq. Jazireh International Bank and Chabahar International Bank Overseas Company were described as offshore lenders operating in free-trade zones, affiliated with Bank Mellat and Bank Shahr respectively. The designations also cover oil intermediary Sayyed Ruhollah Razavi, seven foreign-exchange operators, and Hong Kong company Elitesphere Trading Co., Limited. Treasury said the networks moved hundreds of millions of dollars through shell companies and currency specialists across the Middle East and Asia.
"The noose is tightening around Iran's economy," Treasury Secretary Scott Bessent said, vowing to sever the financial lifelines sustaining Iran's military and proxy forces. Designated parties' property under U.S. jurisdiction is blocked and U.S. persons are generally barred from dealing with them; OFAC authorized wind-down transactions involving IDB through 12:01 a.m. ET on October 30.
Sources: U.S. Department of the Treasury; Office of Foreign Assets Control, October 15 action
Published by GSM · USA (original Chinese edition)
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