The U.S. Treasury sanctioned Iranian exchange houses to disrupt financial networks tied to Iran’s military funding
ERBIL (Kurdistan 24) – Scott Bessent said the United States is intensifying efforts to disrupt Iran’s financial networks, announcing new sanctions targeting foreign exchange operations linked to Tehran.
In a statement on Friday on X, Bessent described Iran as a central driver of global instability and said Washington is moving aggressively to restrict its financial capabilities.
“Iran is the head of the snake for global terrorism… Treasury is moving aggressively, through Economic Fury, to sever the Iranian military’s financial lifelines,” he said.
He added that U.S. authorities will continue to track and disrupt Iran’s ability to generate, transfer, and repatriate funds, while targeting individuals and entities that assist in evading sanctions.
As part of the latest measures, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) designated three Iranian foreign currency exchange houses along with associated front companies.
According to the Treasury, these exchange houses facilitate billions of dollars in foreign currency transactions annually and serve as key financial channels for the Iranian economy.
Officials said the entities play a particularly important role in converting oil revenues into usable currencies.
The Treasury noted that Iran primarily settles its oil exports in Chinese yuan, requiring conversion into other currencies for broader use.
The sanctioned exchange networks are involved in converting these revenues into currencies that can be used by Iran’s military and affiliated groups, including regional partners and proxy forces.
U.S. officials argue that disrupting these mechanisms is critical to limiting Iran’s ability to finance military operations and regional activities.
The sanctions are part of the broader “Economic Fury” campaign, a strategy aimed at applying sustained financial pressure on Iran by targeting its revenue streams and international financial networks.
The approach builds on previous measures focusing on Iran’s oil exports, banking system, and alternative financial channels, as Washington seeks to tighten restrictions amid ongoing regional tensions.
