Treasury also warned financial institutions Thursday about potential Iranian regime exploitation of religious charities.
By Vered Weiss, World Israel News
The Trump administration imposed a new round of Iran-related sanctions Thursday, targeting 16 individuals and 10 entities, including banks, exchange companies and businesses in Iran, Iraq and Hong Kong, as Washington seeks to further restrict Tehran’s access to the international financial system.
The measures are part of Operation Economic Outcast, a Treasury Department campaign targeting financial channels that the department says allow Iran to evade sanctions, generate revenue and finance its military and terrorist proxy groups.
Among those designated was Iraq-based International Development Bank for Investment and Finance, which Treasury said provides Iran with financial services and access to U.S. dollars.
The bank maintains connections with Iranian government entities and Iran-aligned militia groups in Iraq, according to the department.
Treasury also designated Iranian offshore banks Jazireh International Bank Company and Chabahar International Bank Overseas Company, along with exchange houses, financial operatives and Iranian oil intermediary Sayyed Ruhollah Razavi.
“The noose is tightening around Iran’s economy, and not even Iran’s so-called allies can save it,” Treasury Secretary Scott Bessent said. “The Department of the Treasury will not relent until the Iranian regime’s coffers are empty and every remaining financial lifeline sustaining its war machine has been severed.”
The State Department concurrently designated Cuba-based Banco Internacional de Comercio S.A., which has provided services to designated Iran-based Karafarin Bank since at least 2022.
Treasury also warned financial institutions Thursday about potential Iranian regime exploitation of religious charities.
The Financial Crimes Enforcement Network issued an alert identifying signs of possible diversion of religious tithes, or khums, which Treasury said the regime co-opts from the global Shi’a community.
“Under President Trump’s leadership, Treasury will not allow the Iranian regime to continue its long history of abusing religious institutions to line the pockets of its elites and fund terrorism,” Bessent said.
FinCEN said warning signs include charities soliciting donations without apparent charitable activity, organizations receiving large unexplained donations before transferring significant sums elsewhere, and customers receiving nonprofit funds without a clear business relationship before withdrawing the money in cash or transferring it onward.
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