The U.S. Treasury Department on April 28 imposed sanctions on 35 individuals and entities accused of running Iran’s secret shadow banking network.
Treasury has accused the network of transferring tens of billions of dollars to help Iran dodge U.S. sanctions and finance terrorism.
The Department of the Treasury’s Office of Foreign Assets Control is sanctioning a network of shell companies, exchange houses, and operators connected to Iranian banks, such as Shahr Bank, that have enabled the Islamic Revolutionary Guard Corps (IRGC) and other Iran-backed armed forces to gain access to the international financial system.
U.S. officials said the networks facilitate payments for illicit Iranian oil sales, purchases of missile components, and transfers to Tehran’s terrorist proxies….