ERBIL, Kurdistan Region - The US Department of the Treasury on Wednesday slapped a new round of sanctions against over 20 individuals and entities for their involvement in networks financially assisting Iran’s military and the Islamic Revolutionary Guard Corps (IRGC). “Iran generates the equivalent of billions of dollars via commodity sales to fund its destabilizing regional activities and support of multiple regional groups,” including Palestinian Hamas and Lebanon’s Hezbollah group, the US Treasury Department said in a statement. Included in the sanctions package are people and firms based in areas such as Hong Kong and the United Arab Emirates, as well as entities linked to Iran’s Sepehr Energy, which the US alleges is a front company for Iranian oil sales. Iran continues “to engage in illicit finance schemes to generate funds to fan conflict and spread terror throughout the region,” said Treasury Undersecretary for Terrorism and Financial Intelligence Brian E. Nelson. “The United States remains committed to exposing elements of the Iranian military and its complicit partners abroad to disrupt this critical source of funds.” The latest round of sanctions comes amid heightened tensions between the US and Iran over the war in Gaza. Iranian proxies have repeatedly attacks American assets and bases in the region, particularly in Iraq and Syria, over Washington’s support for Israel. Washington has responded to these attacks on numerous occasions, striking Iran-backed groups in both countries in retaliation for dozens of rocket and drone attacks on American bases. The sanctions block assets that any of the designated entities and individuals possess under US jurisdiction and bars all American companies or individuals from engaging with them.
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