Those sanctioned are involved in the sale of Iranian oil and petrochemicals, money to pay for weapons and proxy groups.
The US Treasury Department has announced economic sanctions on 50 individuals and companies in Hong Kong, the United Arab Emirates and the Marshall Islands that it claims have been acting as an “expanding shadow banking network” for the military. from Iran.
On Tuesday, the Treasury's Office of Foreign Assets Control said 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 revenue pays for weapons and financing to proxy groups, including Yemen's Houthis, as well as drone transfers to Russia, the Treasury said.
Iran is accused of supplying Russia with drones that are being used to bomb Ukrainian civilians as the Kremlin continues its invasion of Ukraine.
Sanctions include Seyyed Mohammad Mosanna'i Najibi, an Iranian-Turkish money changer, 27 covert companies controlled by Najibi based in Hong Kong, the United Arab Emirates and the Marshall Islands, and a currency exchange company based in Tehran , among other. others.
An AP inquiry through the Iranian branch of Najibi's company, known as Sadaf Exchange, did not immediately receive a response.
Among other measures, the sanctions deny individuals and companies access to any property or financial assets held in the United States and prevent American companies and citizens from doing business with them.
Treasury Undersecretary Wally Adeyemo said the United States “will continue to pursue those who seek to finance Iran's destabilizing terrorist activities. “We continue to work with allies and partners, as well as the global financial industry, to increase vigilance against the movement of funds that support terrorism.”
The United States has already sanctioned what it claims are Iranian shadow banking businesses. In March 2023, the United States imposed economic sanctions on 39 companies that it said were linked to a shadow banking system that helped conceal financial activity between sanctioned Iranian companies and their foreign buyers, particularly petrochemicals produced in Iran.
