US Increases Pressure on Iran With Sanctions Warning to Foreign Financial Institutions
The U.S. Treasury Department said Iran relies on shadow banking networks to move money through the global financial system.
TL;DR
- The U.S. has warned foreign financial institutions about potential sanctions for doing business with Iran.
- This warning is part of an effort to cut Iran off from the U.S. financial system.
- The U.S. Treasury Department issued an alert on Oct. 5, stating entities could be "targeted at any time without advance notification."
- This marks an expansion of Operation Economic Outcast, announced on Aug. 24.
- Operation Economic Outcast increases the risk of secondary sanctions for involvement in Iran's digital assets, technology, gold, aviation, and shipping sectors.