Overview
- Treasury’s sanctions arm designated 35 people and firms on Tuesday for running Iran’s shadow banking network that moved tens of billions of dollars, including “rahbar” middlemen who use shell companies to process oil payments outside normal banks.
- New guidance told financial institutions to apply extra checks to China’s independent “teapot” refineries in Shandong and warned that handling payments tied to those refineries or to any “toll” for Strait of Hormuz transit exposes them to U.S. sanctions.
- Officials said they froze more than $344 million in cryptocurrency linked to Iran and reported disrupting billions of dollars in projected oil revenue in recent days under the Operation Economic Fury campaign.
- Bessent warned the global aviation sector on Monday that supplying fuel, maintenance, landing fees or catering to sanctioned Iranian airlines will trigger U.S. penalties and urged foreign governments to stop such services.
- He confirmed waivers that had allowed certain oil purchases at sea will not be renewed, raising secondary sanctions risk for foreign firms and banks that facilitate Iranian oil trade as the administration expands third‑party enforcement.