The United States on Friday imposed new sanctions targeting banks, currency exchange firms, and individuals accused of helping Iran’s ruling elite transfer hundreds of millions of dollars through a network of financial channels.
The US Treasury Department announced the measures, saying they aim to dismantle what it described as a network of exchange houses and shell companies used to move funds and bypass existing sanctions.
State Department spokesperson Tommy Pigott said the networks allowed Tehran to access oil revenues and evade restrictions by using front companies to launder money.
Pigott said the latest sanctions reflect the Trump administration’s continued “maximum pressure” campaign against Iran, aimed at cutting off resources that Washington says are used to threaten regional stability, support terrorism, and expand Iran’s military capabilities.
“By targeting the banks, exchange houses, and individual facilitators involved in this illicit system, the United States is making clear that those who assist Iran in evading sanctions will face serious consequences,” Pigott said.
He added that Washington would continue working with regional partners to block all channels Iran uses to finance what he called destabilizing activities, warning that Tehran’s support for armed groups and regional actions would carry “a steep and lasting cost.”
