US imposes new sanctions on Iranian military-linked network

The US has imposed a new round of sanctions on a group of 20 people and firms allegedly involved in a financial facilitation network for the benefit of the Iranian military.

The United States imposed a new round of sanctions on Wednesday on a network of 20 individuals and companies allegedly involved in facilitating financial transactions for the Iranian military. The sanctions, announced by the Treasury Department, target firms and people from Hong Kong to the United Arab Emirates.

Sanctions Target Iranian Firm Sepehr Energy

Included in the sanctions package are employees, brokers, and purchasers from Iranian firm Sepehr Energy, which is also subject to sanctions. The US alleges that Sepehr acts as a front company for the Iranian government's oil sales, which "fund its destabilizing regional activities and support of multiple regional proxy groups," including Hamas and Hezbollah, according to a Treasury statement.

Sanctions Block Access to US Property and Bank Accounts

The sanctions block access to US property and bank accounts and prevent the targeted individuals and companies from doing business with Americans. "Iran engages in illicit finance schemes to generate funds to fan conflict and spread terror throughout the region," said Brian E. Nelson, Treasury's undersecretary for terrorism and financial intelligence. "The United States remains committed to exposing elements of the Iranian military and its complicit partners abroad to disrupt this critical source of funds," he added.

US-Iran Tensions

The White House has said it has yet to uncover information that Iran, the principal financial and military sponsor of Hamas, was directly involved in the multipronged operation against Israel on October 7. However, the US has conducted strikes over the last several weeks against Iranian-tied weapons depots in Syria to retaliate for dozens of rocket and drone attacks that militant groups have launched since October 7 against US bases in Iraq and Syria.

The new sanctions on the Iranian military-linked network are part of the US efforts to disrupt Iran's illicit financial activities and support for regional proxy groups. The move reflects the ongoing tensions between the US and Iran, with both sides engaged in a proxy conflict in the Middle East.