The U.S. Treasury Department has imposed sanctions on more than 30 individuals and entities tied to a massive Iranian shadow banking network accused of laundering billions of dollars to benefit the regime in Tehran.
The sanctions target figures linked to Iranian brothers Mansour, Nasser, and Fazlolah Zarringhalam. According to the Treasury’s Office of Foreign Assets Control (OFAC), the trio operated through Iranian exchange houses and dozens of front companies—mainly based in Hong Kong and the UAE—to funnel funds from Iran’s oil and petrochemical sales into the international financial system.
The scheme helped Iran evade sanctions, fund its nuclear and missile programs, and support proxy groups across the region.
“Iran’s shadow banking system is a lifeline for the regime,” said Treasury Secretary Scott Bessent. “We will keep targeting these critical networks that enrich elites and fuel corruption at the people’s expense.”
This marks the first round of sanctions targeting Iran’s shadow banking infrastructure since President Trump’s National Security Presidential Memorandum 2 revived the U.S. “maximum pressure” campaign on Tehran.
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The U.S. Justice Department announced charges against two Chinese citizens accused of spying inside the U.S. on behalf of Beijing.
The United States has decided to halt some planned deliveries of air defence missiles and other munitions to Ukraine, citing concerns over dwindling American stockpiles, according to officials familiar with the matter.
Poland will temporarily restore border checks with Germany and Lithuania starting 7 July, Prime Minister Donald Tusk announced Tuesday, citing the need to reduce irregular migration across its borders.
Donald Trump announced Tuesday that Israel has accepted the key terms of a proposed 60-day ceasefire in Gaza, as part of renewed efforts to end the war.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
Prices for goods made in China and sold on Amazon.com are rising at a pace faster than overall inflation, signaling the growing impact of U.S. tariffs on consumers, a new analysis by retail analytics firm DataWeave reveals.
U.S. Secretary of State Marco Rubio convened his counterparts from India, Japan, and Australia on Tuesday for a high-stakes meeting of the Indo-Pacific Quad, aiming to reaffirm the group's commitment to countering China’s influence in the region.
A U.S. federal judge on Tuesday rejected Huawei Technologies Co Ltd's request to dismiss the majority of charges in a sweeping indictment, allowing the Chinese telecoms giant to face trial over allegations of trade secret theft, bank fraud, and sanctions violations.
France is facing a severe heat wave forcing nearly 1,350 schools to shut fully or partially, nearly double from the previous day.
The U.S. Justice Department announced charges against two Chinese citizens accused of spying inside the U.S. on behalf of Beijing.
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