In brief
- OFAC has sanctioned two Iranians and multiple firms in Hong Kong and the UAE.
- The designations hit a shadow banking network tied to oil sales and cryptocurrency transactions for the IRGC-QF and MODAFL.
- The measures follow Israeli moves against 187 crypto wallets linked to the IRGC.
The U.S. Treasury Department has imposed sanctions on two Iranian nationals and a slate of Hong Kong and United Arab Emirates-based companies accused of funneling money from illicit oil sales to Iran’s Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF) and Ministry of Defense and Armed Forces Logistics (MODAFL).
The measures, announced Tuesday by the Treasury’s Office of Foreign Assets Control (OFAC), expand Washington’s campaign against…
Sep 17 2025
