US issues new Iran-related sanctions targeting over 35 entities.
The United States has issued a new round of Iran-related sanctions targeting 10 individuals and 27 entities, according to a post on the US Treasury Department website on Friday.
The sanctioned entities have ties to the "Shadow Banking Network," which is involved in money laundering on behalf of Iran, according to a State Department press release.
The network has laundered billions of dollars through Iranian exchange houses and foreign front companies, according to the release.
The Zarringhalam brothers and their associates used front companies based in the United Arab Emirates and Hong Kong to help certain Iranians generate revenue from the sale of petroleum and other commodities used to build nuclear weapons.
At the same time, the Treasury’s Financial Crimes Enforcement Network Department updated an advisory to provide information on forms of illegal financing, as well as red flags associated with Iranian oil smuggling, shadow banking, and procurement of weapons and dual-use components.
The sanctions, which also target some entities in the United Arab Emirates and Hong Kong, come as US President Donald Trump's administration is working to get a new nuclear deal with Tehran.
Iranian Foreign Minister Abbas Araghchi said Friday that Iran will respond to the American proposal in the coming days.
This follows a Wall Street Journal report alleging that Iran ordered thousands of tons of ballistic missile ingredients from China to rebuild its nuclear and military capabilities.
A Chinese Foreign Ministry spokesperson denied knowledge of the deal in a statement, asserting that China has “always exercised strict control over dual-use items in accordance with China’s export control laws and regulations and its international obligations.”
The United States has issued a new round of Iran-related sanctions targeting 10 individuals and 27 entities, according to a post on the US Treasury Department website on Friday.
The sanctioned entities have ties to the "Shadow Banking Network," which is involved in money laundering on behalf of Iran, according to a State Department press release.
The network has laundered billions of dollars through Iranian exchange houses and foreign front companies, according to the release.
The Zarringhalam brothers and their associates used front companies based in the United Arab Emirates and Hong Kong to help certain Iranians generate revenue from the sale of petroleum and other commodities used to build nuclear weapons.
At the same time, the Treasury’s Financial Crimes Enforcement Network Department updated an advisory to provide information on forms of illegal financing, as well as red flags associated with Iranian oil smuggling, shadow banking, and procurement of weapons and dual-use components.
The sanctions, which also target some entities in the United Arab Emirates and Hong Kong, come as US President Donald Trump's administration is working to get a new nuclear deal with Tehran.
Iranian Foreign Minister Abbas Araghchi said Friday that Iran will respond to the American proposal in the coming days.
This follows a Wall Street Journal report alleging that Iran ordered thousands of tons of ballistic missile ingredients from China to rebuild its nuclear and military capabilities.
A Chinese Foreign Ministry spokesperson denied knowledge of the deal in a statement, asserting that China has “always exercised strict control over dual-use items in accordance with China’s export control laws and regulations and its international obligations.”
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