Summary US imposes sanctions on 35 entities over links to Iran’s oil and banking sectors. Officials say network helped bypass restrictions, warning more institutions could face action
WASHINGTON (Dunya News) - The United States has intensified economic pressure on Iran by adding 35 entities and individuals to its sanctions list.
According to foreign media reports, US officials said the targeted network was supporting Iran’s banking system and oil trade.
The US Department of the Treasury stated that the designated entities and individuals were involved in the shipment of Iranian oil worth billions of dollars and related financial transactions, attempting to bypass existing sanctions.
The department’s subsidiary Office of Foreign Assets Control (OFAC) warned that banks and financial institutions continuing business with these companies could also face action, particularly those involved in payment systems linked through the Strait of Hormuz.
US officials also pointed to oil refineries in China’s Shandong province, stating that several private companies there are involved in importing and refining Iranian oil.
