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U.S. imposes fresh sanctions on Iran and North Korea

U.S. imposes fresh sanctions on Iran and North Korea Illustrative photo (Photo: Getty Images)
Author: Daria Shekina

The United States today, on November 29, imposed new sanctions against Iran and North Korea, according to the U.S. Department of the Treasury.

Sanctions against Iran

The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has imposed sanctions on over 20 individuals and entities for their involvement in financial networks supporting Iran's Ministry of Defense and armed forces material supply.

It is noted that Iran receives billions of dollars through the sale of goods to finance its destabilizing regional activities and support various regional proxy groups, including Hamas and Hezbollah.

Brian Nelson, the Deputy Treasury Secretary for Terrorism and Financial Intelligence, states that the U.S. remains committed to exposing elements of the Iranian Armed Forces and their facilitators abroad to undermine this crucial source of finance.

Restrictions regarding North Korea

Additionally, the Office of Foreign Assets Control of the U.S. Treasury Department has placed sanctions on Sinbad, a virtual currency mixer serving as a key tool for laundering money for the Lazarus cyber hacking group sponsored by North Korea.

Cyber criminals also use Sinbad to conceal transactions associated with malicious activities such as:

  • Evading sanctions.
  • Illegal drug trafficking.
  • Purchasing materials for child sexual violence.
  • Additional illegal sales on darknet marketplaces.

Wally Adeyemo, the Deputy Treasury Secretary, mentions that the Treasury and its U.S. government partners are ready to use all available tools to prevent virtual currency mixers like Sinbad from facilitating illicit activities.

U.S. sanctions on North Korea and Iran

Washington has implemented a series of restrictions against Iran and North Korea due to Russia's military support, human rights violations, and nuclear programs in these countries.

In September, U.S. legislators proposed a bill urging an expansion of sanctions against North Korea for its support of Russia's war.

Additionally, in the same month, the U.S. imposed a new set of sanctions on an international network aiding Iran in producing drones.

In October, the U.S. House of Representatives passed a bill to strengthen sanctions on Iranian oil, sending a clear signal to Russia and China.