Cracking Down on Iranian Military Financial Networks: Treasury's Target
The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on over 20 individuals and entities involved in financial facilitation networks benefiting Iran's Ministry of Defense and Armed Forces Logistics (MODAFL), Iranian Armed Forces General Staff (AFGS), and the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). These networks enable Iran to generate billions of dollars through commodity sales, which are used to fund regional destabilization activities and support proxy groups like Hamas and Hezbollah. The sanctioned individuals and entities include front companies, brokers, and foreign-based companies involved in the illicit commercial activities. The US remains committed to disrupting these critical sources of funds for the Iranian military.