U.S. Sanctions 35 Targets Linked to Iran Shadow Banking Network
The Treasury Department announced sanctions on 35 entities and individuals tied to Iran’s shadow banking system.
U.S. officials said the network helps move tens of billions of dollars through the international financial system.
Authorities said Iran’s armed forces, including the Islamic Revolutionary Guard Corps, use the system to receive payments from illicit oil sales.
Treasury said the network also helps fund weapons purchases and transfers money to Iran-backed proxy groups.
