US Sanctions 30 Firms, Individuals For Supporting Iran’s Missile Programme
The United States Treasury Department has imposed sanctions on more than 30 individuals and firms accused of helping Iran bypass sanctions and launder billions through oil and petrochemical sales to fund its nuclear and missile programmes.
According to a statement from the department, the targeted network operated a “shadow banking” system using front companies in countries like the United Arab Emirates and Hong Kong to conceal the origin of proceeds from Iranian oil.
The new sanctions freeze any U.S.-based assets belonging to those listed and prohibit American citizens and companies from doing business with them.
The measures are also expected to severely restrict the international operations of the affected individuals and companies, particularly in transactions involving U.S. dollars.
Washington and Tehran are currently in talks over Iran’s nuclear ambitions.
Former U.S. President Donald Trump had maintained a tough stance, warning that military action remains an option if diplomacy fails.
Iran, on its part, continues to insist that its nuclear activities are strictly for civilian purposes.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
