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US sanctions Iran-linked bank network
The U.S. Department of the Treasury has imposed sanctions on a banking network known as "A7," linked to Russia, which Iran uses to evade economic sanctions. The network was established in late 2024 with the aim of facilitating international payments and manipulating them to avoid Western sanctions imposed on Moscow, as transactions related to sanctioned sectors and individuals appeared to be routine. The Office of Foreign Assets Control (OFAC) classified the network as a transnational criminal organization and added it to the sanctions list, along with efforts to enable financial institutions to identify and report suspicious activities.
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