US Imposes Penalties on Iranian Military Financiers
(MENAFN) The United States Treasury Department announced on Tuesday a new wave of sanctions aimed at people and organizations that Washington alleges are helping to finance Iran's armed forces.
According to a statement from the Treasury’s Office of Foreign Assets Control (OFAC), the sanctioned parties were identified for their involvement in organizing money transfers, including proceeds from Iranian oil sales, which support the Islamic Revolutionary Guard Corps (IRGC)-Qods Force (QF) as well as Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL).
“Iranian entities rely on shadow banking networks to evade sanctions and move millions through the international financial system,” declared Under Secretary of the Treasury for Terrorism and Financial Intelligence John K. Hurley.
The United States "will continue to disrupt these key financial streams that fund Iran’s weapons programs and malign activities in the Middle East and beyond," Hurley emphasized.
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