US issues new sanctions targeting Iran’s rail, auto sectors

The US announced a new round of sanctions against Iran on Thursday, targeting the rail and automotive sectors as well as a Russia-linked alleged shadow banking network, according to the Treasury Department.

"Today's action directly targets Iran's enablers and lays the groundwork for the United States and our partners to drain the regime's revenue once and for all," Treasury Secretary Scott Bessent said in a statement.

The agency sanctioned Iran's two largest automakers, Iran Khodro and SAIPA, along with several subsidiaries, as well as the state-owned Islamic Republic of Iran Railway Company and two other rail firms.

It also added Iran's automotive and rail sectors to its sectoral sanctions determinations, allowing it to target any entity or individual operating in those industries.

The Treasury Department separately designated the A7 Network as a "significant transnational criminal organization," saying the Russia-linked network was used by Iran to evade sanctions and processed more than $17 billion through its "sub-agents" between January 2025 and June 2026.