US sanctions Iran-linked exchange houses, shell companies

The US on Friday imposed new sanctions targeting companies, exchange houses and financial facilitators it said helped Iran secretly move hundreds of millions of dollars through the international financial system.

“Teapot refinery purchases of Iranian oil provide the primary economic lifeline for the Iranian regime, the world’s leading state sponsor of terror,” Secretary of the Treasury Scott Bessent said in a statement.

In a separate statement, State Department spokesperson Tommy Pigott said the measures are intended to "cut the financial lifelines that sustain Iran's ruling elite."

"Through these networks, Tehran accessed oil revenue and evaded sanctions designed to curb its destabilizing activities, laundering funds using front companies," Pigott said.​​​​​​​