With new ones in people and entities related to his government, they are trying to push the Iranian side to accept an agreement on its nuclear program.
According to the US Treasury, new sanctions concern more than 30 natural and legal entities and entities, which are part of a “shadow bank” network that has flushed billions of dollars through the global financial system.
Sanctions are targeted by Iranian nationals and some entities in the United Arab Emirates and Hong Kong, and according to US Ministry of Finance, at least two of the companies are linked to the National Iranian Tanker Company.
“Iran’s shadow banking system is a critical lifeline for the regime, through which it has access to oil sales revenue, sharing money and funding its destabilizing activities,” Finance Minister Scott Besed said.
The US argues that the network helps Tehran to fund and support armed organizations throughout the Middle East.
It was the first round of US sanctions aimed at the “shadow banking network” since Trump announced the policy of “maximum pressure” in Iran in February.
Talks between Iran and the US aimed at resolving a decades -long conflict over Tehran’s nuclear ambitions have reached a deadlock due to disagreements over uranium enrichment.
Zingalam brothers and companies
The Ministry of Finance said that natural and legal persons were all linked to the Iranian brothers Mansour, Nasser and Fatzlola Zingalam, who totaled billions of dollars through the international financial system.
The Treasury said the brothers operate in Iran and a network of virtual companies in Hong Kong and the UAE, but did not mention where they were.
The Treasury has said that network showcase companies operate accounts in many different coins and in various banks to facilitate payments for Iranian entities selling Iranian oil and are under sanctions themselves.
The Ministry of Finance’s foreign assets of foreign assets added ACE Petrochem FZE, and Moderate General Trading LLC, both registered with the UAE, to the relevant list, binding on any of their assets in the US. Ofac said both are linked to the state -owned company Iranian Tanker Company, which is subject to US sanctions for the export of Iranian oil.
