U.S. Treasury Sanctions Network That Aids Iran in Evasion of Trade Restrictions
The United States Treasury Department announced the imposition of sanctions on a group of 39 firms believed to be helping Iran bypass international rules. The action targets entities linked to a covert network used to move money and goods around the global financial system in ways that mask Iranian trade activity. (Source: U.S. Treasury)
In its formal statement, the Treasury described the sanctioned entities as parts of a shadow banking network that facilitated illicit transactions and enabled the transfer of Iranian oil products without proper visibility. Notable organizations cited include Persian Gulf Petrochemical Industry Trade Inc. (PGPICC) and Triliance Petrochemical Co. Ltd. (Triliance). These two groups were accused of enabling access to the international financial system and concealing trade with foreign clients. (Source: U.S. Treasury)
The list includes firms based in Iran, Singapore, Malaysia, Hong Kong, and the United Arab Emirates. The Treasury stated that the core objective was to hide the supply of Iranian oil products to buyers in Asia while steering financial transactions around existing restrictions. (Source: U.S. Treasury)
New sanctions were announced in the United States yesterday against certain Iran-related actors and China-based entities, reflecting ongoing efforts to tighten enforcement against networks that support Iran’s export operations. (Source: U.S. Treasury)
Previously, U.S. actions froze assets and restricted dealings with officials and organizations tied to violations of women’s rights within Iran. The measures were said to affect the deputy head of the Iranian Prosecutor General’s Office, two soldiers, two regional prison heads, and three companies accused of contributing to the suppression of protests. (Source: U.S. Treasury)
Earlier moves extended sanctions on Iran to include a fleet of ships and additional petrochemical firms, broadening the scope of activity targeted for obstructing Iran’s ability to move goods and funds internationally. (Source: U.S. Treasury)
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