WASHINGTON, D.C. – The U.S. Department of the Treasury has announced sanctions against three major Iranian currency exchanges and more than a dozen front companies, accusing them of laundering billions of dollars to finance Tehran's military operations and its related networks.
This move is part of the "Economic Fury" maximum pressure campaign by the Donald Trump administration, targeting the shadow financial systems that assist Iran in converting its oil revenues.
According to the Treasury Department, the targeted exchanges include Opal Exchange, Radin Exchange, and Arz Iran Exchange, along with their owners and associated company networks.
Officials stated that these systems play a crucial role in converting funds—primarily in Chinese yuan—into U.S. dollars, euros, and other currencies to support the Iranian government's activities.
Treasury Secretary Scott Bessent stated that these measures aim to cut off the financial resources that sustain Iran's military activities.
Under the regulations, all assets of the sanctioned individuals and entities within U.S. jurisdiction will be frozen, and U.S. citizens and organizations are prohibited from engaging in transactions with these parties.
Furthermore, foreign entities that provide support for these prohibited activities may face additional secondary sanctions.
The Treasury Department noted that the objective of this move extends beyond mere punishment, aiming to pressure Iran into changing its behavior within the region.
