The U.S. Treasury has sanctioned 10 Iran-linked entities and 16 individuals, targeting banks, oil intermediaries and foreign-exchange networks allegedly involved in facilitating Iran’s access to U.S. dollars and moving oil proceeds.
The measures include Iraq’s International Development Bank, Jazireh International Bank and Chabahar International Bank, as well as Hong Kong-based Elitesphere Trading.
The actions form part of Washington’s broader Operation Economic Outcast, launched on Aug. 24 to expand sanctions targeting Iran-linked financial networks and sectors including shipping, aviation, gold and digital assets.
Separately, the State Department designated Cuba-based Banco Internacional de Comercio over its alleged services to Iran’s Karafarin Bank, while FinCEN issued an alert on potential misuse of religious-charity networks.
Treasury Secretary Scott Bessent said the measures were intended to intensify economic pressure on Iran.
Further information is available at:
https://home.treasury.gov/news/press-releases/sb0660/