U.S. Imposed Sanctions on Financial Network Linked to Financing Iran
by Emmitt Barry, Worthy News Correspondent
(Worthy News) – The United States has imposed sanctions on over 20 individuals, entities, and their financial networks for providing resources supporting Iran’s military and terrorist proxy groups throughout the Middle East.
The Treasury Department issued a statement detailing the financial networks supplying Iran billions of dollars through commodity sales. It remains “committed to exposing elements of the Iranian military and its complicit partners abroad to disrupt this critical source of funds.”
Specifically, the sanctions targeted Sepehr Energy, which utilizes companies in Hong Kong and the United Arab Emirates to trade commodities worth billions of dollars with customers in Europe and East Asia.
The U.S. Treasury alleges that Sepehr acts as a front company for the Iranian government’s oil sales, which fund its destabilizing regional activities.
The sanctions aim to hinder Iran’s financing of its military entities such as Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), the Iranian Armed Forces General Staff (AFGS), the Islamic Revolutionary Guard Corps (IRGC), as well as financing terrorist proxy groups of Iran, including Hamas and Hezbollah.
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