The Trump administration imposed fresh Iran-related sanctions on Thursday, targeting 16 individuals and 10 entities across Iran, Iraq and Hong Kong to restrict Tehran’s access to the international financial system.
The measures form part of the Treasury Department’s “Operation Economic Outcast,” which targets financial networks Washington says help Iran evade sanctions and fund military activities and allied groups.
Designated institutions include Iraq-based International Development Bank for Investment and Finance and Iranian offshore banks Jazireh International Bank Company and Chabahar International Bank Overseas Company.
The State Department also targeted Cuba-based Banco Internacional de Comercio S.A. over its reported services to Iran-based Karafarin Bank since at least 2022.
Treasury Secretary Scott Bessent said the administration would continue targeting financial channels linked to Iran until its funding networks were disrupted.
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