The United States Department of the Treasury has announced fresh US sanctions on Iran, blacklisting 14 individuals and multiple entities operating across financial and commercial sectors.
Scope of the OFAC Sanctions Framework
The restrictions were imposed by the US Treasury’s Office of Foreign Assets Control (OFAC) under an executive order directed at specific Iranian activities, seeking to curtail illicit financial channels.
Designated Financial Institutions and Foreign Firms
The sanctions list includes currency exchange establishments and financial institutions based in Iran, alongside connected entities in Hong Kong and Iraq. Among the targeted institutions is the Baghdad-based International Development Bank for Investment and Finance.
