The US Treasury Department on Friday imposed a new round ofsanctions on Iran linked to maritime activity in the Strait of Hormuz,targeting 30 individuals and entities, the Office of Foreign Assets Control(OFAC) stated.
OFAC added that Iran’s shadow financial networks processtens of billions of dollars in transactions annually, relying on exchangehouses, agents, and offshore front companies to move funds globally.
Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control designated three Iranian foreign currency exchange houses and their associated front companies. Collectively, Iranian exchange houses facilitate billions of dollars in foreign currency transactions each…
— Treasury Department (@USTreasury) May 1, 2026These actions follow remarks last week by US TreasurySecretary Scott Bessent, who warned of penalties targeting vessels andindividuals facilitating Iranian oil shipments. The Treasury also sanctioned aChinese refinery and around 40 entities linked to importing Iranian oil.
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