OfficialDiplomacy & politicsBackgroundWashington, United States
Treasury sanctions 35 people and firms in Iran's shadow banking network
- Mountain Time
- Local time
- 2:47 PM in New York
- Where
- Washington, United States
OFAC designated 35 individuals and entities it said run Iran's 'shadow banking' system, moving billions of dollars through shell-company accounts at foreign banks on behalf of the IRGC, the National Iranian Oil Company and the armed forces. Treasury also warned that firms making 'toll payments' to Iran for passage through Hormuz face significant sanctions.
Why it matters
Washington paired the blockade with financial pressure and put a sanctions price on any Hormuz toll payment.
Sources (3)
- CBS Newscbsnews.comPublished
- Al Jazeeraaljazeera.comPublished
- CBS News (2)cbsnews.comPublished
Confidence: Stated by a named government, military, or institution. Not independently confirmed. About confidence labels