Overview
- OFAC, which announced the action Tuesday, designated 35 individuals and entities it says run a shadow banking network that helps Iran move money outside formal channels.
- Treasury named Farab Soroush Afagh Qeshm Company, HMS Trading FZE, and Sanovo among firms accused of masking payments, using front companies, and routing funds through foreign accounts.
- Treasury Secretary Scott Bessent warned that doing business with sanctioned Iranian airlines risks U.S. penalties and urged governments to block services such as jet fuel, catering, airport fees, and maintenance.
- OFAC signaled it may sanction companies that facilitate payments tied to transit through the Strait of Hormuz for Iran and the IRGC, including fuel suppliers, logistics firms, and port operators.
- U.S. officials say these opaque finance chains give the IRGC access to revenue from illegal oil sales and to missile components, and they describe the step as part of a maximum-pressure push that has stacked hundreds of sanctions since 2025.