The United States has announced new measures aimed at disrupting financial networks that facilitate the sale of Iranian oil. The Department of State said these actions target individuals and entities based in Hong Kong and the United Arab Emirates, which have helped generate revenue for Iran’s Islamic Revolutionary Guard Corps Qods Force (IRGC-QF) and the Ministry of Defense and Armed Forces Logistics (MODAFL). According to officials, proceeds from these sales support regional terrorist groups and help advance weapons systems that threaten U.S. forces and allies.
“These funds are used to support regional terrorist proxies and advance weapons systems that pose a direct threat to U.S. forces and our allies,” the statement read.
The designations were made under Executive Order 13224, as amended, marking the fourth round of sanctions focused on Iran’s shadow banking system since National Security Presidential Memorandum 2 directed a maximum pressure campaign against Iran.
“The United States remains committed to disrupting illicit funding streams financing Iran’s malign activities. As long as Iran devotes its illicit revenues to funding attacks on the United States and our allies, supporting terrorism around the world, and pursuing other destabilizing actions, we will continue to use all the tools at our disposal to hold the regime accountable,” according to the announcement.
In addition to targeting financial networks, Secretary of State has revoked an exception issued in 2018 under the Iran Freedom and Counter-Proliferation Act (IFCA), which had allowed for Afghanistan reconstruction assistance and economic development. Effective September 29, 2025, those operating Chabahar Port or engaging in related activities may now be subject to sanctions under IFCA.
For more information on today’s action, see the Department of the Treasury Press Release.
