Targeting Financial Network Generating Millions for Iranian Military and Additional Actions in Support of Maximum Pressure on Iran

Today, the United States is countering Iran's destabilizing activities by designating an international illicit financial network, along with several individuals and entities based in Hong Kong and the United Arab Emirates. These networks have facilitated the sale of Iranian oil, with proceeds benefiting Iran's Islamic Revolutionary Guard Corps Qods Force (IRGC-QF) and Ministry of Defense and Armed Forces Logistics (MODAFL). These funds are used to support regional terrorist proxies and advance weapons systems that pose a direct threat to U.S. forces and our allies.

This action is being taken pursuant to the counterterrorism authority E.O. 13224, as amended, and marks the fourth round of sanctions targeting Iran's shadow banking infrastructure since the President issued National Security Presidential Memorandum 2, directing a campaign of maximum pressure on Iran.

The United States remains committed to disrupting illicit funding streams financing Iran's malign activities. As long as Iran devotes its illicit revenues to funding attacks on the United States and our allies, supporting terrorism around the world, and pursuing other destabilizing actions, we will continue to use all the tools at our disposal to hold the regime accountable.

For more information on today's action, please see the Department of the Treasury Press Release.

Revoking IFCA Exception

Additionally, consistent with President Trump's maximum pressure policy to isolate the Iranian regime, the Secretary of State has revoked the sanctions exception issued in 2018 under the Iran Freedom and Counter-Proliferation Act (IFCA) for Afghanistan reconstruction assistance and economic development, effective September 29, 2025. Once the revocation is effective, persons who operate the Chabahar Port or engage in other activities described in IFCA may expose themselves to sanctions under IFCA.

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