u.s. treasury sanctions individuals in shadow banking scheme to sell iranian oil

U.S. Treasury sanctions individuals in ‘shadow banking’ scheme to sell Iranian oil

On September 16, the U.S. Department of Treasury made a significant announcement regarding sanctions imposed on two Iranian financial facilitators involved in ‘shadow banking’ to aid Iran’s oil industry. Alongside these individuals, more than a dozen entities based in Hong Kong and the United Arab Emirates were also targeted for their support of Iran through these illicit financial activities.

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