OfficialDiplomacy & politicsWashington, D.C., United States
Treasury sanctions Iran's Shahr Bank, Dubai exchange houses and two crypto exchanges
- Mountain Time
- Local time
- 7:27 PM in New York
- Where
- Washington, D.C., United States
OFAC designated Shahr Bank and two Dubai-based exchange houses, Titan Exchange and Alps International, which it said helped retrieve oil revenue for the National Iranian Oil Company and other exporters, in its eighth action this year against Iran's shadow banking. In a separate action it sanctioned two digital asset exchanges and the head of a network of front companies it said laundered funds for the IRGC.
Why it matters
Both actions target how Iran repatriates oil money; the State Department also offered up to $15 million for information disrupting IRGC finances.
Sources (3)
- U.S. Department of the Treasuryhome.treasury.govPublished
- U.S. Department of the Treasury (2)home.treasury.govPublished
- CBS Newscbsnews.comPublished
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