U.S. Treasury Imposes Sanctions on Networks Financing Iran’s Military
(MENAFN) The US Treasury Department unveiled a new wave of sanctions Tuesday targeting individuals and entities accused of financing Iran’s military operations.
In a statement, the Treasury’s Office of Foreign Assets Control (OFAC) identified those sanctioned for orchestrating fund transfers—often sourced from Iranian oil sales—that support the Islamic Revolutionary Guard Corps (IRGC)-Qods Force (QF) and Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL).
“Iranian entities rely on shadow banking networks to evade sanctions and move millions through the international financial system,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence John K. Hurley.
Hurley emphasized Washington’s commitment to halting these financial channels, stating that the US “will continue to disrupt these key financial streams that fund Iran’s weapons programs and malign activities in the Middle East and beyond.”
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