US targets Iran’s covert finance network with sanctions on 35 entities
U.S. authorities have imposed restrictions on 35 organizations and individuals associated with Iran and its financial system, the U.S. State Department says in a statement.
"Today, the United States is acting against 35 entities and individuals who operate Iran’s covert financial network," the statement says.
It is reported that they are talking about secret banking networks that allow them to transfer tens of billions of dollars to circumvent sanctions, CE Report informs.
Meanwhile, as no tangible progress was made in the nuclear negotiations between the U.S. and Iran, the situation escalated on February 28, when the United States and Israel launched military airstrikes against Iran. In retaliation, Iran initiated missile and drone strikes targeting Israeli and U.S. installations in the region.
Following these developments, a two-week ceasefire agreement was brokered on April 7 through Pakistan's mediation. However, during subsequent talks between the U.S. and Iran in Islamabad on April 11, no consensus was reached.
On April 21, U.S. President Donald Trump stated that he extended the ceasefire until Iran submits its proposal and discussions are concluded, one way or the other.
The United States imposed a naval blockade on Iranian ports on April 13. In response, Iran tightened restrictions on vessels transiting the Strait of Hormuz on April 18.
