The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury on Tuesday sanctioned a prominent Iranian foreign currency exchange house and its affiliated companies, alleging they handled hundreds of millions of dollars in transactions for sanctioned Iranian banks.
Economic Fury Campaign
The move, part of the US "Economic Fury" campaign, targets over 50 companies, individuals, and vessels that provide revenue to Tehran, according to an official department statement.
Vessels and Transactions
Additionally, OFAC blocked 19 vessels involved in transporting Iranian petroleum and petrochemicals to foreign customers, transactions that generated hundreds of millions of dollars in revenue.
The department is prepared to take action against foreign companies supporting illegal Iranian commerce, including airlines, and may impose secondary sanctions on foreign financial institutions facilitating Iranian activities if necessary, the statement said.
