U.S. sanctions ‘sprawling’ shadow banking network for supporting Iranian military

US Slaps Sanctions on Network It Accuses of Moving Billions for Iran’s Military

WASHINGTON—The United States on Tuesday imposed sanctions on nearly 50 entities and people it accused of moving billions of dollars for Iran’s military. The U.S. Treasury Department in a statement said those targeted on Tuesday constitute a “shadow banking network” used by Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL) and Islamic Revolutionary Guard Corps (IRGC), both of which are under U.S. sanctions. The network helped the MOD…

US Treasury targets shadow banking network moving money for Iran’s military

Sanctions imposed on nearly 50 entities, individuals; revenue-generating activities include sale of Iranian oil, petrochemicals - Anadolu Ajansı

U.S. Treasury Department Sanctions ‘Sprawling’ Shadow-Banking Network for Supporting Iranian Regime

The Department of the Treasury’s Office of Foreign Assets Control on Tuesday sanctioned almost 50 parts of a "sprawling 'shadow banking' network" used by the Iranian military and the Islamic Revolutionary Guard Corps to support the Iranian regime.

U.S. targets alleged global 'covert network' funding used for Iran's paramilitary groups

Dozens of sanctions were issued to those the U.S. claims is part of a "covert network" to gain illegal access to the global financial system in alleged "systemic money laundering" to back Iranian paramilitary groups

US Sanctions Nearly 50 Parts of ‘Covert’ Iranian Banking System Worth Billions of Dollars

“The United States is taking action against a vast shadow banking system used by Iran’s military to launder billions of dollars of oil proceeds and other illicit revenue,” stated Wally Adeyemo, deputy secretary of the Treasury.

Shadow banking network for Iranian military hit with US sanctions

The U.S. Treasury Department is imposing sanctions on a what it calls a shadow banking network for Iran’s military. The sprawling network expands to 50 people and firms in Hong Kong, the United Arab Emirates and the Marshall Islands, and is used by Iran’s Ministry of Defense and Armed Forces and Islamic Revolutionary Guard Corps,…