The US Department of theTreasury imposed new sanctions on Tuesday targeting 12 individuals, 29entities, and 19 vessels linked to Iran as part of Washington’s expanding“Economic Fury” campaign against Tehran.
According to the TreasuryDepartment, Iranian exchange firms process billions of dollars in foreigncurrency transactions annually, enabling Tehran to bypass sanctions and accessthe global financial system. US authorities also alleged that shell companieslinked to the network handled hundreds of millions of dollars in transactionson behalf of Iranian financial institutions.
— Treasury Department (@USTreasury) May 19, 2026
Treasury Secretary ScottBessent accused Iran’s “shadow banking system” of facilitating illicitfinancial transfers linked to terrorism, warning financial institutions toremain alert to what he described as Tehran’s manipulation of the internationalfinancial system.
The sanctions freeze anyUS-based assets belonging to the targeted individuals and entities and prohibitAmerican citizens and companies from conducting transactions with them.
Read more: Force without a finish line: Iran losing the war, US losing the endgame
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