Reported 11 months ago
The U.S. Treasury Department announced economic sanctions on 50 entities and individuals in Hong Kong, the UAE, and the Marshall Islands for supporting Iran's military through a vast shadow banking network. These sanctions target those involved in the sale of Iranian oil and petrochemicals, contributing to Iran's access to the international financial system for weapons funding and drone transfers to Russia, implicating the use of Iranian drones in Russia's bombing of Ukrainian civilians during the conflict. The sanctions include an Iranian-Turkish money-changer, cover companies, and a currency exchange business, restricting their access to U.S. assets and business dealings with U.S. entities, as part of ongoing efforts to combat Iran's destabilizing activities.
Source: YAHOO