The United States has imposed sanctions on 22 entities linked to a transnational network engaged in illicit oil trade on behalf of the Iranian regime.
The U.S. Department of State annonuced that Iran's “Shadow Banking” network had operated through foreign front companies to move funds that "support the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), finance Tehran’s destabilizing activities and campaigns of terror, and advance its ballistic missile programs—actions that threaten international peace and security."
"Iran uses front companies based in Hong Kong, United Arab Emirates, and Türkiye as part of this network to help sanctioned Iranian government entities generate revenue from the sale of petroleum and other commodities subject to U.S. sanctions," the Department of State said and added that the United States would continue to deny Iran access to financial networks and the global banking system as long as Iran continues its destabilizing activities.
According to the Department of the Treasury’s Office of Foreign Assets Control, the IRGC-QF primarily leverages front companies outside of Iran, which use offshore accounts to transfer hundreds of millions of dollars in profits derived from Iranian oil sales to circumvent sanctions and funnel funds toward IRGC-QF terrorist activities.
Refineries purchasing Iranian oil, transfer payments to these front companies, which then move the funds to other front company accounts also controlled by the IRGC-QF.
The United States and Iran have traded fresh strikes, with the U.S. hitting military sites and Iran launching missiles and drones at bases and ship...
A London court has handed down lengthy sentences to activists from campaign group Palestine Action, who raided an Israeli-owned arms company in the U...
Sierra Leone’s First Lady, Fatima Jabbe-Bio, has lost her London social housing flat after a UK council seized it. ...
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 tril...
Iran said no final decision has been made on a proposed agreement with Washington, despite suggestions from U.S. President Donald Trump that a deal co...
The United States and Iran have traded fresh strikes, with the U.S. hitting military sites and Iran launching missiles and drones at bases and ships near the Strait of Hormuz. Shipping remains active, but tensions are rising as calls grow for restraint and renewed talks.
Poland will receive a new $4 billion loan from the United States through the Foreign Military Financing (FMF) programme, strengthening defence ties between the two NATO allies as Warsaw continues a major military modernisation drive.
Legions of security officers and police are being deployed for the 2026 FIFA World Cup as organisers prepare for what officials describe as an unprecedented security challenge to protect fans, players and venues across North America.
The United States is planning to significantly reduce the aircraft and warships it makes available for NATO operations in Europe, according to reports citing two senior European officials.
Mexico and South Africa meet in Thursday’s World Cup opener in Mexico City, with both teams approaching the match from very different positions but facing their own pressures.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
While France hosts next week’s Group of Seven summit, businesses in neighbouring Switzerland have already begun taking precautions, with many shops in Geneva boarded up ahead of a large anti-G7 demonstration expected on Sunday.
Formula 1 driver Pierre Gasly’s Monaco Grand Prix podium has been reinstated after Alpine successfully challenged his post-race penalties through a Right of Review request with the FIA.
Iran said no final decision has been made on a proposed agreement with Washington, despite suggestions from U.S. President Donald Trump that a deal could soon be signed in a European capital.
Georgia and the European Union have held their first working-level talks in Brussels following the EU's decision to suspend visa-free travel for holders of Georgian diplomatic, service and official passports.
Türkiye has condemned a defence agreement signed this week between France and Southern Cyprus, describing it as a threat to regional stability and the rights of Turkish Cypriots.
Authorities in the western Afghan city of Herat have arrested at least 30 women for allegedly breaching dress rules imposed by the Taliban, according to the United Nations agency for women’s rights.
Mali’s al Qaeda-affiliated group Jama’at Nusrat al-Islam wal-Muslimin (JNIM) has offered multimillion-dollar rewards for information on senior military officials and the country’s head of state.
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