The United States Treasury Department has announced sanctions against more than thirty individuals and companies accused of helping Iran evade sanctions and launder billions from oil and petrochemical sales to fund its nuclear and missile programmes.
The department said the sanctioned network operated as a system of shadow banking involving front companies in places like Hong Kong and the United Arab Emirates.
The goal, it said, was to bypass existing sanctions, obscure the origin of oil proceeds, and funnel money into military-linked projects.
