Washington: The US Treasury Department announced on Tuesday that the US has imposed a new set of sanctions connected to Iran that target people and organizations that Washington claims fund Tehran’s military, including some in Hong Kong and the United Arab Emirates.
According to Treasury, those targeted have assisted in arranging financial transactions, particularly those resulting from the sale of Iranian oil, that support Iran’s military and its Ministry of Defense and Armed Forces Logistics (MODAFL), as well as the Islamic Revolutionary Guard Corp (IRGC)-Quds Force.
“Iranian ‘shadow banking’ networks like these—run by trusted illicit financial facilitators—abuse the international financial system, and evade sanctions by laundering money through overseas front companies and cryptocurrency,” it stated in a statement.
