Shafaq News- Washington
The US Treasury provided globalfinancial institutions with information aimed at helping them “shut downrevenue streams and procurement networks” linked to Iran, the departmentannounced on Wednesday, as part of the Operation Economic Outcast campaign.
The Treasury’s Financial CrimesEnforcement Network (FinCEN) shared the information through its Exchangeprogram, a voluntary public-private partnership that brings financialinstitutions together with law enforcement and other stakeholders. The meetingfocused on networks and facilitators that the Treasury says give Iran andallied groups access to US correspondent banking relationships and “allow themto launder funds, procure weapons, and bankroll regional terrorist activity.”
Treasury Secretary Scott Bessentsaid Washington would continue working with financial institutions and theprivate sector to “sever every economic lifeline Tehran has left.”
The United States launched OperationEconomic Outcast on Aug. 24, with Bessent describing it as a campaign toisolate Iran from global economic and financial networks. The latest sanctionsunder the campaign came on Monday, when the Treasury imposed additional sanctionson Russia’s VTB Bank, accusing the lender of involvement in Iranian sanctionsevasion.
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