Treasury Dept. targets Iran 'shadow banking' network using cryptocurrency to evade sanctions
NegativeU.S News

The U.S. Treasury has taken significant action against Iran's shadow banking network, imposing sanctions on Iranian financiers and over a dozen entities in Hong Kong and the UAE. This move targets the alleged facilitation of $100 million in cryptocurrency transfers linked to Iranian oil sales, which are believed to support the Iranian government and military. This is crucial as it highlights ongoing efforts to curb Iran's financial maneuvers that evade international sanctions, impacting global security and economic stability.
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