U.S. Imposes Sanctions on Entities Tied to Iranian Terror Funding

The United States announced sanctions on nearly 50 entities and individuals involved in an Iranian operation funneling funds to terrorist organizations such as Hamas, Hezbollah, and the Houthis. According to Wally Adeyemo, the U.S. Deputy Secretary of the Treasury, these actions target a shadow banking system utilized by Iran’s military to launder billions of dollars of illicit revenue.

Adeyemo stated, “We will continue to pursue those who seek to finance Iran’s destabilizing terrorist activities,” highlighting previous sanctions imposed by the Biden administration on numerous targets engaged in Iran’s illicit oil and petrochemical-related activities.

The recent U.S. sanctions aim to curb Iran’s support for terrorist groups amidst escalated activities by Hezbollah in Lebanon and the Houthis in Yemen. Both groups have aligned with Hamas following recent conflict with Israel. Tensions between Israel and Iran have further intensified, with Iran launching attacks on Israel in response to Israeli military actions in Syria.

The sanctioned entities include over two dozen companies based in Hong Kong, the United Arab Emirates, and the Marshall Islands with connections to Iranian or Turkish currency exchanges. These businesses facilitate Iran’s military groups in masking revenue generated abroad, which is utilized to acquire advanced weapons and support Iran’s proxies.

Concerns over Iran’s backing of militant groups were a focal point of discussions between senior U.S. officials and Israel’s Defense Minister, Yoav Gallant, in Washington this week.