The United States Department of the Treasury has announced new sanctions targeting 21 Iranians, foreign nationals, and firms accused of involvement in an illicit financial network for the benefit of the Iranian military.
In a statement on Wednesday, the department said that Iran relies on an array of “foreign-based front companies and brokers” to fund regional armed groups such as the Palestinian group Hamas and the Lebanon-based group Hezbollah.
“Iran generates the equivalent of billions of dollars via commodity sales to fund its destabilizing regional activities and support of multiple regional proxy groups, including Hamas and Hezbollah ", the statement said.
Iran engages in “illicit finance schemes to generate funds to fan conflict and spread terror throughout the region,” said Brian Nelson, Treasury’s undersecretary for terrorism and financial intelligence.
“The United States remains committed to exposing elements of the Iranian military and its complicit partners abroad to disrupt this critical source of funds,” he added.