Washington (EFE).- The United States on Wednesday announced sanctions against 22 foreign companies accused of helping Iran sell crude oil in violation of existing international sanctions.
The entities allegedly operated as part of a “shadow banking system” that helps Iran evade sanctions and transfer proceeds from oil sales to its elite military force programs.
“Today, the Department of the Treasury (…) is designating 22 entities based in Hong Kong, the United Arab Emirates (UAE), and Turkey for their roles in facilitating the sale of Iranian oil that benefits the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF),” the department said in a statement.
“The IRGC-QF primarily leverages front companies outside of Iran, which use offshore accounts to transfer hundreds of millions of dollars in profits derived from Iranian oil sales to circumvent sanctions and funnel funds toward IRGC-QF terrorist activities.”
The IRGC-QF is considered the most powerful branch of Iran’s military and has been designated by Washington as a Foreign Terrorist Organization (FTO).
“The Iranian regime relies heavily on its shadow banking system to fund its destabilizing nuclear and ballistic missile weapons programs, rather than for the benefit of the Iranian people,” said Treasury Secretary Scott Bessent. “Treasury remains focused on disrupting this shadowy infrastructure that allows Iran to threaten the United States and our allies in the region.”
This marks the second wave of sanctions targeting Iran’s shadow banking network since President Donald Trump signed a memorandum in February launching a campaign of “maximum pressure” on Tehran.
The sanctions come at a time when the US and Iran are expected to resume nuclear talks in Oslo, Norway, in the coming days. The negotiations would follow last month’s US bombing of Iranian nuclear facilities and a ceasefire it brokered between Israel and Iran after a 12-day conflict. EFE
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