How Iran Funds Moved via U.S. Banks
The article discusses how billions of dollars linked to Iran are passing through American banks despite the sanctions imposed on it, representing a vulnerability in efforts to financially isolate Iran. Tehran uses banking networks and interfaces in countries such as the UAE, China, and Hong Kong to conceal its connections to these sanctions. Despite attempts to use the yuan and cryptocurrencies, Iran still relies on the dollar to settle restricted transactions and supplies. Washington closely monitors these flows through correspondent banks, particularly following the U.S. Treasury's targeting of the Emirati branch of Bank of Egypt, which transferred around $1.8 billion, as part of its efforts to restrict Iranian financial transactions without jeopardizing the stability of the global financial system.
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