Shafaq News-Washington
The US TreasuryDepartment on Thursday announced new sanctions targeting Iran-linked networksaccused of circumventing US sanctions, covering 16 individuals and 10 entities,including an Iraqi bank.
The Treasury’sOffice of Foreign Assets Control (OFAC) designated Iraq-based InternationalDevelopment Bank for Investment and Finance (IDB), accusing it of providingIran with access to US dollars and maintaining ties with Iranian governmententities and Iran-aligned armed groups.
The measures alsotargeted Iranian offshore banks, exchange houses, financial operatives and oilintermediary Sayyed Ruhollah Razavi, whom Washington accused of helping moveIranian funds and oil revenues through foreign companies and financialnetworks.
Today, as part of Operation Economic Outcast, Treasury disrupted Iran’s efforts to infiltrate the international financial system through an Iraqi bank that also supports Iran’s terrorist proxy militia groups. By dismantling these institutions—including offshore banks and shadow financiers that have moved hundreds of millions of dollars through shell companies and foreign‑exchange specialists across the Middle East and Asia—Treasury is severing critical revenue streams that sustain Iran’s military and proxy forces. t.co/oQnsonnczK
— Treasury Department (@USTreasury) October 15, 2026On October 8, theTreasury Department sanctioned 17 vessels it said were part of Iran’s remainingshadow fleet.
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