US puts ‘shadow' banking network linked to Iran on blacklist
(VOVWORLD) -The US on Thursday imposed sanctions on 39 entities, including many based in the United Arab Emirates and China’s Hong Kong, that Washington says give Iran access to the global financial system.
 US Deputy Treasury Secretary Wally Adeyemo (Photo: Reuters) |
Deputy Treasury Secretary Wally Adeyemo described them as a “shadow banking” network that moves billions of dollars each year for Iran and allows foreign buyers and dozens of front companies to help sanctioned Iranian companies continue to trade.
Adeyemo said the new measures show the US is committed to enforcing sanctions and disrupt the foreign financial networks Iran uses to launder funds.