The United States has imposed sanctions on nearly 50 entities and individuals involved in moving billions of dollars for Iran’s military. The U.S. Treasury Department targeted a “shadow banking network” used by Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL) and Islamic Revolutionary Guard Corps (IRGC). These entities helped MODAFL and IRGC gain access to the international financial system and process billions of dollars, supporting the provision of weapons to Iran’s proxy groups and the transfer of drones to Russia.
Washington’s sanctions are part of efforts to combat terrorism financing and increase vigilance against such activities. The move freezes U.S. assets of banned entities and individuals, prohibiting Americans from engaging in transactions with them. The targeted companies are located in Hong Kong, the United Arab Emirates, Marshall Islands, Iran, and Turkey.
This action underscores the ongoing economic tensions between the U.S. and Iran, with Iran’s mission to the United Nations labeling the sanctions as part of an “economic war.” The outcome of this conflict, according to Iran, will be determined by strength of will rather than the imposition of sanctions.