US hits Iran's 'shadow banking apparatus' with sanctions
Photo: US Treasury Department (Getty Images)
US imposes sanctions on Iran-linked banking network
According to Pigott, the US Treasury Department has taken action to dismantle a network of currency exchange houses and shell companies.
Through these networks, Tehran:
- Gained access to oil-sale revenues,
- Circumvented sanctions by using intermediary companies to launder funds.
He said the move is part of President Donald Trump's "maximum pressure" campaign against Iran.
The measures are intended to cut off resources the Iranian regime uses to:
- Threaten regional stability,
- Support terrorism,
- Expand its military capabilities.
Who was targeted
According to the State Department, this marks the eighth action taken by the Office of Foreign Assets Control in 2026 against Iran's "shadow banking apparatus."
Those targeted include:
- Iranian banks,
- Affiliated shell companies,
- Currency exchange houses and their executives,
- Major financiers,
- Importers and exporters that use these financial networks to launder and repatriate funds to Iran.
Earlier, RBC-Ukraine reported that, according to a notice published by the US Treasury Department, the United States lifted sanctions on two aircraft and three airlines linked to Iran's Islamic Revolutionary Guard Corps.
On July 29, the US also imposed sanctions on two Iranian companies and eight tankers.
