Washington: The US Department of the Treasury's Office of Foreign Assets Control (OFAC) announced sanctions targeting individuals and entities for facilitating financial transactions that support Iran's military.
According to Kuwait News Agency, the sanctions focused on two financial facilitators and 12 entities involved in coordinating funds transfers, including proceeds from the sale of Iranian oil. These entities were accused of abusing the international financial system and evading sanctions by laundering money through overseas front companies and cryptocurrency.
In a statement, the Treasury Department explained that the Islamic Revolutionary Guard Corps (IRGC)-Quds Force and Armed Forces Logistics (MODAFL) utilize these proceeds to support regional terrorist proxy groups and develop advanced weapons systems, including ballistic missiles and unmanned aerial vehicles (UAVs), posing threats to the security of US forces and their allies.
US Department of State Deputy Spokesperson Thomas Pigott emphasized in a separate press statement the United States' ongoing commitment to disrupting illicit funding streams that finance Iran's activities. He noted that as long as Iran uses its illicit revenues to fund attacks on the US and its allies, support global terrorism, and pursue other destabilizing actions, the United States will continue to employ all available tools to hold the regime accountable.