America sanctions 39 entities affiliated with shadow banking network

The United States has sanctioned 39 entities belonging to the shadow banking network.

The US Treasury Department has announced that it has added an international network consisting of 39 companies to its blacklist, accusing them of participating in the creation of an extensive shadow banking network and assisting the Iranian government in circumventing sanctions.

According to statements released by the Office of Foreign Assets Control (OFAC) of the US Treasury Department on Friday, this illegal network has collaborated with sanctioned Iranian petrochemical companies, including Persian Gulf Petrochemical Industries Marketing Company and Triliance Petrochemical Co., Ltd.

According to the Treasury Department, affiliated exchange offices of the Islamic Republic have facilitated petrochemical trade with foreign customers and financial transactions by establishing companies outside of Iran.