US EditionUS Targets Iran ‘Shadow Banking’ Network with New Sanctions
HONG KONG, CHINA, UNITED ARAB EMIRATES, TURKEY, JUL 8 – The US Treasury targeted 21 entities supporting Iran's IRGC-Qods Force shadow network involving illicit oil trade and financial schemes, aiming to cut funds for Tehran's military and terror activitie
- On July 9, the US Treasury targeted 21 companies associated with Iran’s Qods Force of the Islamic Revolutionary Guard Corps in an effort to dismantle its covert financial network.
- This action follows Iran’s June 28 presidential election held after the death of Ebrahim Raisi and aims to pressure Iran's military funding amid rising oil export ties to China.
- Sanctions targeted Hong Kong-, UAE-, and Turkey-based companies facilitating illicit oil trade sustaining Iran's ballistic missile and terror programs through disguised financial transactions.
- Treasury Secretary Scott Bessent said the Iranian regime uses the shadow banking system to fund nuclear and missile programs, and the US will "promote accountability" for destabilizing activities.
- These designations aim to cut Iran’s access to global finance, reinforcing US maximum pressure policies while highlighting China’s critical role in sustaining Iran’s oil exports.
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US Sanctions on Hong Kong, UAE, Turkey Target Iran’s Shadow Banking Network
These latest sanctions will “deprive Iran’s regime of resources to rebuild and refinance its nuclear and military programs after the US and Israeli military strikes,” a policy analyst told Kyiv Post.
·Kyiv, Ukraine
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U.S. Sanctions 22 Entities in Hong Kong, UAE, Türkiye for Aiding Iranian Oil Sales to Fund IRGC Qods Force
The U.S. imposed sanctions on 22 entities in Hong Kong, the UAE, and Türkiye for facilitating Iranian oil sales, which fund the Islamic Revolutionary Guard Corps Qods Force, a designated Foreign Terrorist Organization and Iran’s primary paramilitary unit.
Coverage Details
Total News Sources11
Leaning Left3Leaning Right3Center2Last UpdatedBias Distribution38% Left, 38% Right
Bias Distribution
- 38% of the sources lean Left, 38% of the sources lean Right
38% Right
L 38%
C 25%
R 38%
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