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US expands sanctions against Iran

OFAC expands Iran sanctions, blacklisting 19 vessels and a currency exchange company involved in oil trade.

Olivia Taylor
ByOlivia Taylor- Senior Editor
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The US Treasury's Office of Foreign Assets Control (OFAC) has expanded its sanctions list against Iran, adding 19 vessels and a currency exchange company.

According to an official press release, the sanctions target ships involved in transporting Iranian oil and petrochemical products to foreign markets. Additionally, "Ebrahimi and Associates Partnership Company," which conducted hidden financial transactions on behalf of sanctioned Iranian banks, has been blacklisted.

These measures are part of OFAC's ongoing efforts to expose Iran's "shadow banking" mechanisms and prevent attempts to evade international restrictions.

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