Us issues new sanctions on individuals, entities backing Iran's army
(MENAFN) According to reports, the US Treasury Department announced Tuesday a new round of sanctions aimed at individuals and entities accused of financing Iran’s military operations.
The Office of Foreign Assets Control (OFAC) stated that the sanctions target parties involved in coordinating fund transfers, including revenues from Iranian oil sales, which benefit 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 John K. Hurley, Under Secretary of the Treasury for Terrorism and Financial Intelligence.
The Treasury official added, "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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