Yesterday, Tuesday, the United States issued sanctions on about 50 entities and individuals accused of transferring billions of dollars for the Iranian army.

The US Treasury Department said in a statement that the entities targeted by the new measures constitute a “secret banking network” used by the Ministry of Defense and to support the Iranian Armed Forces and the Iranian Revolutionary Guard, and they are entities subject to US sanctions.

The ministry explained that this network helped the Ministry of Defense and the Revolutionary Guard access the international financial system and conduct transactions equivalent to billions of dollars since 2020.

The Iranian Ministry of Defense and the Iranian Revolutionary Guard make money mainly through the sale of oil and petrochemicals.

According to the US Treasury Department, the proceeds of the Iranian Ministry of Defense and the Revolutionary Guards through networks of Iranian exchange offices and other foreign companies have contributed to financing and arming pro-Iranian groups, including the Houthi movement in Yemen, in addition to transporting drones to Russia for use in the war in Ukraine. .

New penalties

Washington imposed a series of sanctions targeting Iranian drones and the Houthis, who have been launching drone and missile attacks on shipping lines since November in solidarity with the Palestinians in the Israeli war on Gaza.

Wally Adeyemo, US Deputy Secretary of the Treasury, noted in the statement that the United States “continues to cooperate with allies, partners, and the global financial sector to enhance oversight of the movements of funds that support terrorism.”

For its part, Iran's mission to the United Nations confirmed that the sanctions announced on Tuesday are part of the "economic war" against Tehran.

The mission added that these measures are considered an unjustified attack by the United States on the Iranian people, and that Iran is defending itself in this context. It also stressed that the outcome of this economic war will depend on willpower and not on the ability to impose sanctions.

It is noteworthy that the new sanctions targeted many companies in Hong Kong, the Emirates, and the Marshall Islands, in addition to companies in Iran and Turkey.

The measures include freezing any assets of the targeted parties within the United States, and prohibiting American citizens from dealing with them, and anyone who participates in certain dealings with them may also be subject to sanctions.