WASHINGTON (HRNW): Escalating economic pressure on Tehran, the United States has added 35 entities and individuals to its sanctions list for their involvement in Iran’s “shadow banking” architecture. U.S. officials stated that this network has been instrumental in supporting Iran’s banking system and illicit oil trade, moving tens of billions of dollars to bypass international sanctions.
According to the U.S. Department of the Treasury, the designated individuals and organizations facilitated the shipment of Iranian oil and managed financial transactions for sanctioned entities, including the Islamic Revolutionary Guard Corps (IRGC) and the National Iranian Oil Company. These operations provided a critical financial lifeline for Iran’s armed forces and their regional proxies.
The Treasury’s Office of Foreign Assets Control (OFAC) issued a stern warning to global financial institutions, noting that any bank or clearinghouse processing payments for these networks—including those involved in “toll” payments for passage through the Strait of Hormuz—risks severe legal consequences and exclusion from the U.S. financial system.
U.S. authorities also specifically highlighted independent “teapot” oil refineries in China’s Shandong Province, which are responsible for importing and refining a significant portion of Iranian crude. These private firms are under close scrutiny for using the U.S. financial system to conduct dollar-denominated trades while facilitating the regime’s energy exports. The primary goal of these measures is to restrict Iran’s energy-related revenue and ensure effective global enforcement of sanctions against the regime.
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