The United States has imposed a fresh round of sanctions targeting individuals, entities, and vessels linked to Iran. On Tuesday, the US Department of the Treasury announced that 12 individuals, 29 entities, and 19 vessels have been placed under the sanctions regime.

Washington claims these networks have been assisting Iran in bypassing international sanctions and gaining access to the global financial system.

A primary target of the new sanctions is Amin Exchange, an Iranian currency exchange firm also known as the Ibrahimi and Associates Partnership Company. The US alleges that the firm established a network of front companies across various countries to conduct financial transactions on behalf of Iranian banks.

According to the US Treasury, Iranian exchange companies process billions of dollars in foreign currency transactions annually, allowing Tehran to evade sanctions and access the international financial framework.

US Treasury Secretary Scott Bessent alleged that Iran's shadow banking system plays a pivotal role in transferring illicit funds linked to terrorism. He urged international financial institutions to remain vigilant.

Furthermore, several vessels have been blacklisted for allegedly transporting Iranian oil and petrochemical products. These include the Barbados-flagged LPG tanker Great Sail, the Palau-flagged tanker Ocean Wave, and the Panama-flagged chemical and oil tanker Swift Falcon.

As a result of the new sanctions, any US-based assets belonging to the listed individuals and entities will be frozen. Additionally, US citizens and companies are prohibited from engaging in any transactions with them.

Earlier, Scott Bessent stated that during a G7 meeting, the US discussed coordinating with its allies to further escalate financial pressure on Iran. He expressed optimism about securing European support, particularly regarding the Strait of Hormuz crisis and dismantling Iran's financial networks.
Source: Shafaq News