The United States has imposed sanctions on a banking network connected to Iran.
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has sanctioned 39 entities that make up an unofficial shadow banking network.
This network is one of several illicit and multinational financial networks that provide services to sanctioned entities in Iran, enabling them to engage in transactions with the global banking system and commercial institutions.
Companies such as Persian Gulf Petrochemical Industry Company and Triliance Petrochemical Company are among those that have benefited from this network.
Iranian exchange offices facilitate trade between foreign companies and sanctioned Iranian companies by establishing shell companies abroad, and the desired foreign currency is obtained through internal auditing channels.
