The United States of America announced the inclusion of nearly 50 entities and individuals who form a hidden banking network that works to transfer billions of dollars to the Iranian army, enabling it to purchase and develop advanced weapons systems, provide them to regional groups affiliated with Tehran, including the Houthis, and supply Russia with drones.< /p>

The US Treasury said in a press statement on Tuesday that its Office of Foreign Assets Control (OFAC) imposed sanctions on 44 commercial and exchange companies and 4 individuals who constitute multiple branches of the sprawling “shadow banking” network used by the Iranian Ministry of Defense and troop logistics. Armed forces and the Islamic Revolutionary Guard Corps have illicitly accessed the international financial system and processed the equivalent of billions of dollars since 2020, through numerous income-generating commercial activities, most notably the sale of oil and petrochemicals.

The statement added that this network enables the Ministry of Defense and the Iranian Revolutionary Guard to hide the revenues it generates abroad, and allows them to use them in a range of military activities, including purchasing and developing advanced weapons systems, and “this revenue also supports the provision of weapons and financing.” “To regional proxy groups, including the Houthis in Yemen, who continue a campaign of reckless attacks on global shipping, as well as the transfer of drones to Russia for use in its war of aggression against Ukraine.”

The Deputy Secretary of the US Treasury confirmed; Wali Adeyemo said that his country has imposed sanctions on hundreds of targets involved in Iran’s illicit activities related to oil and petrochemical revenues, “and we will continue to work with allies and partners, in order to pursue those who seek to finance destabilizing terrorist activities by Tehran.”

The statement indicated that the Iranian Ministry of Defense is responsible for the development, production, financing and logistics services of all defense industries, “and the Tehran government allocates billions of dollars worth of oil sales to its armed forces, and uses it to manufacture advanced conventional weapons, including ballistic missiles and drones that... It is exported to other countries such as Russia, or agents such as the Houthis.”

The Treasury Department explained that most of the entities that were included, today, in the latest sanctions list, are multi-jurisdictional companies, most of which are located in Hong Kong, the Emirates, Tehran, the Marshall Islands, and Turkey, and give Iranian entities subject to sanctions access to the international financial system and obfuscate their trade. With foreign customers.