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.
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European leaders gathered in Dublin on Thursday, 12 November, for the ninth European Political Community (EPC) summit, with security, defence and energy high on the agenda. Azerbaijani President Ilham Aliyev held talks focused on peace, trade and regional cooperation.
Iran will not let a single particle of its enriched nuclear material leave the country, and any new U.S. attack would be met with strikes on distant American bases, Iranian security chief Mohsen Rezaei has said.
Nvidia chief executive Jensen Huang is stepping down amid reports linking him to a woman suspected by U.S. authorities of spying for China, throwing the future of the $4 trillion chipmaker into uncertainty.
Kazakhstan’s security service has arrested Nurlan Zhakupov, CEO of Samruk-Kazyna, the country’s sovereign wealth fund, on suspicion of corruption. Yelzhas Otynshiyev, Chairman of KTZ, Kazakhstan’s national railway firm has also been detained.
Eight people have been killed and at least 17 injured after an apartment building collapsed into a neighbouring construction site in Brooklyn, New York, as rescuers continued searching the rubble for possible survivors.
Tajikistan has urged the international community to increase funding to protect shrinking glaciers and help mountain communities adapt to climate change at the COP31 UN climate summit in Antalya, Türkiye.
Melting glaciers, recurring droughts and dust storms are putting growing pressure on Central Asia’s water resources, agriculture and public health.
Iran’s Assembly of Experts has backed withdrawing from the Nuclear Non-Proliferation Treaty (NPT) and overhauling the country’s defence doctrine, calling both steps essential to national security and deterrence.
Turkish President Recep Tayyip Erdoğan welcomed climate commitments from world leaders at COP31 on Thursday, as he held a series of high-level meetings covering regional security, trade and energy cooperation.
Iraq is exploring the possibility of importing natural gas from Azerbaijan through Türkiye as Baghdad looks for new ways to secure fuel for its power stations and reduce its dependence on external suppliers.
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