US issues new Iran sanctions targeting financial networks

WASHINGTON

The US on Thursday announced new sanctions on 18 individuals and entities allegedly involved in helping Iran evade US sanctions.

According to the Treasury Department, the sanctions target financial and information technology networks accused of facilitating illicit revenue for the Iranian regime and enabling domestic repression.

The list includes RUNC Exchange System Company, which reportedly built an alternative banking messaging system, and Cyrus Offshore Bank, allegedly used to mask transactions for sanctioned Iranian institutions. Tech firm FANAP and its subsidiaries were also blacklisted for their role in government-linked surveillance operations.

“These actions reinforce our commitment to denying Iran access to the international financial system as long as it continues destabilizing behavior,” said State Department spokesperson Tammy Bruce in a statement.

Treasury Secretary Scott Bessent said the designations are part of a broader campaign of maximum economic pressure. “The Iranian regime is running out of places to hide,” he said. “Treasury will continue to disrupt Iran’s schemes aimed at evading our sanctions, block its access to revenue, and starve its weapons programs of capital.”