ABC News on Nostr: U.S. sanctions 'sprawling' shadow banking network for supporting Iranian military ...
U.S. sanctions 'sprawling' shadow banking network for supporting Iranian military
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The U.S. Treasury Department has imposed economic sanctions on a group of 50 people and firms across Hong Kong, the United Arab Emirates, and the Marshall Islands that have been acting as a 'sprawling shadow banking network' for Iran's military. The entities and individuals are involved in the sale of Iranian oil and petrochemicals, which have helped Iran's military and government gain illicit access to the international financial system. The income from these activities pays for weapons and funding to proxy groups, including Yemen's Houthis and drone transfers to Russia. The sanctions deny the people and firms access to any property or financial assets held in the U.S. and prevent U.S. companies and citizens from doing business with them. This is not the first time the U.S. has sanctioned Iranian shadow banking businesses, as similar sanctions were imposed in March 2023 on 39 firms linked to a shadow banking system that facilitated financial activity between sanctioned Iranian firms and their foreign buyers.
#UsSanctions #ShadowBankingNetwork #IranianMilitary #EconomicSanctions #Iran #InternationalFinancialSystem
https://abcnews.go.com/Business/wireStory/us-sanctions-sprawling-shadow-banking-network-supporting-iranian-111409045
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The U.S. Treasury Department has imposed economic sanctions on a group of 50 people and firms across Hong Kong, the United Arab Emirates, and the Marshall Islands that have been acting as a 'sprawling shadow banking network' for Iran's military. The entities and individuals are involved in the sale of Iranian oil and petrochemicals, which have helped Iran's military and government gain illicit access to the international financial system. The income from these activities pays for weapons and funding to proxy groups, including Yemen's Houthis and drone transfers to Russia. The sanctions deny the people and firms access to any property or financial assets held in the U.S. and prevent U.S. companies and citizens from doing business with them. This is not the first time the U.S. has sanctioned Iranian shadow banking businesses, as similar sanctions were imposed in March 2023 on 39 firms linked to a shadow banking system that facilitated financial activity between sanctioned Iranian firms and their foreign buyers.
#UsSanctions #ShadowBankingNetwork #IranianMilitary #EconomicSanctions #Iran #InternationalFinancialSystem
https://abcnews.go.com/Business/wireStory/us-sanctions-sprawling-shadow-banking-network-supporting-iranian-111409045