WASHINGTON, D.C. (Horn post) The United States has imposed sanctions on 35 entities and individuals linked to Iran, targeting what officials described as a “covert banking network” used to bypass international restrictions.
The U.S. Department of the Treasury said those sanctioned were involved in facilitating the transfer of “tens of billions of dollars,” enabling Iran to evade sanctions and finance activities Washington associates with terrorism.
According to the Treasury, the network allowed Iranian institutions — including the Islamic Revolutionary Guard Corps (IRGC) — to access the global financial system despite existing sanctions.
Officials said the targeted network generated revenue through the illicit sale of oil, procured sensitive components for missile and weapons systems, and transferred funds to Iran-backed proxy groups operating across the region.
The latest measures underscore Washington’s continued efforts to disrupt Iran’s financial channels and limit its ability to fund military and regional operations.
Prepared by:
Horn post staff
