US imposes sanctions on 35 individuals, entities for aiding Iran's sanctions evasions
The US has imposed sanctions on 35 individuals and entities for their involvement in Iran's sanctions evasion efforts. These sanctions target those facilitating Iran's access to the international financial system, particularly in relation to oil sales and military funding. The Treasury Department warned that banks engaging with firms paying Iran for passage through the Strait of Hormuz could face significant penalties.
- ▪The sanctions were announced on April 28, 2026, by the US Treasury Department's Office of Foreign Assets Control (OFAC).
- ▪Designated individuals and firms are accused of enabling Iran's armed forces to access funds for illicit activities, including terrorism and missile procurement.
- ▪Since February 2025, the US has taken over 1,000 actions against Iran-related entities as part of a broader strategy to exert economic pressure.
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US imposes sanctions on 35 individuals, entities for aiding Iran’s sanctions evasions Sign up now: Get ST's newsletters delivered to your inboxThe US also warned banks against doing business with any firm paying Tehran for passage through the Straits of Hormuz.PHOTO: EPAPublished Apr 29, 2026, 02:28 AMUpdated Apr 29, 2026, 06:38 AMListenWASHINGTON - The US government ratcheted up pressure on Tehran on April 28, imposing sanctions on 35 entities and individuals for their roles in Iran's shadow banking sector, and threatened sanctions against banks doing business with Chinese "teapot" refineries that it said are paying tolls for shipments to cross the Strait of Hormuz.The Treasury Department's Office of Foreign Assets Control (OFAC) said the designated individuals and firms had facilitated…
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