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US Treasury sanctions Iraqi and Iranian banks
The U.S. Treasury Department has imposed new sanctions targeting a network of Iranian and Iraqi banks and companies, aiming to disrupt the financing Iran uses to support its armed forces and allied groups. The measures include listing an Iraqi bank, Iranian substitutes, and foreign remittance companies, in order to enable the Iranian regime to circumvent international sanctions and continue the flow of funds, especially through alternative channels and active networks involved in money laundering and military operations financing. The goal of these steps is to prevent Iran from accessing the international financial system, freeze all assets related to these networks, and tighten oversight on sources of illegal revenue, including oil sales and money transfers through external intermediaries.
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