Overview
- Speaking in Paris on Tuesday after G7 finance talks, Treasury Secretary Scott Bessent urged partners to join a U.S.-led drive to disrupt Iran’s funding channels.
- He called on European governments to designate Iranian financiers, expose shell and front companies, close enabling bank branches, and dismantle proxy networks.
- Bessent told Middle Eastern and Asian authorities to root out Iran’s shadow banking, the off-the-books web of brokers and front firms that moves money outside normal banks.
- Treasury launched a review to scrub outdated names from its Specially Designated Nationals list, which blocks people and firms from the U.S. dollar system, to focus on high-risk schemes and avoid broad harm to civilians.
- Enforcement continued Tuesday under the Economic Fury campaign as Treasury cited nearly $500 million in frozen crypto linked to Iran and OFAC sanctioned four people tied to the Global Samud Flotilla connected to Hamas-aligned networks.