Treasury Secretary Scott Bessent has sanctioned the Russia-linked A7 Network, a shadow bank the IRGC used to evade U.S. sanctions, and cut into Iran's industrial base by targeting its rail and auto giants under Operation Economic Outcast.
FinCEN found A7 sub-agents moved more than $17 billion in 18 months. A proposed rule would cut off those payments.
Bessent: "If you facilitate illicit finance for America's adversaries, you will lose access to the U.S. financial system."
US Treasury Secretary Bessent: "On September 23, all Iranian airlines will be shut down around the world. If they land, you cannot provide them with fuel, you cannot provide them with landing services, you cannot sell them tickets, or you will be knocked out of the dollar system."
Turkish Airlines, Pegasus and AJet already cut all Iran flights. No bookings until March 2027.
Tehran denies its routes to Istanbul, Baku and Najaf are being suspended.
Treasury launched Operation Economic Outcast to cut off all financial lifelines to the Iranian regime and its enablers. That’s why I issued a new call for whistleblowers to come forward with tips about thos...
U.S Treasury Secretary Bessent:
Treasury launched Operation Economic Outcast to cut off all financial lifelines to the Iranian regime and its enablers. That’s why I issued a new call for whistleblowers to come forward with tips about those who facilitate Iran’s terror.
To anyone worldwide with information on these lifelines: This is your chance. If you have actionable information for Treasury, you may be eligible for an award, no matter where you live or who signs your paycheck. If you see something, say something.
Iran's Foreign Minister Abbas Araghchi: "The U.S. Treasury Secretary has been gleefully boasting about wanting to impoverish Iranians and collapse our economy. Instead, he stands powerless and exposed as the world loses belief in the U.S. financial system. Meltdown over cost of funding U.S. debt is only the beginning."
The U.S. Treasury has announced new sanctions targeting entities that support Iran's proxies in the Middle East, including several Iraqi business executives.
The U.S. Treasury has announced new sanctions targeting entities that support Iran's proxies in the Middle East, including several Iraqi business executives. In a separate updated statement, Treasury said its policy now presumes denial and it will reject most outstanding Iran-related licensing requests.
U.S. Treasury sanctions 36 targets over their support for Iran’s aviation sector, including 27 Iranian commercial airlines and several foreign companies and individuals accused of facilitating Mahan Air’s operations.
The foreign targets ar...
U.S. Treasury sanctions 36 targets over their support for Iran’s aviation sector, including 27 Iranian commercial airlines and several foreign companies and individuals accused of facilitating Mahan Air’s operations.
The foreign targets are based in the UAE, Oman, Turkey, the UK and Malaysia.
Airlines designated: Air Shiraz, Asa Jet Airline, Ata Airlines Company, Atlas Aviation Group, Ava Airlines, Chabahar Airlines Company, Erwan Airline Company, Fly Kish Airlines, Fly Persia Airlines, Iran Air Tour, Iran Aseman Airlines, Jsky Airlines, Kish Airlines, Karun Airlines Company, Lad Airways, Mehr Airways, Nasim Air, Pars Oghyanous Kish Company, Qeshm Air, Raimon Airways, Saha Airlines, Sepehran Airlines, Soroush Air, Taban Airlines, Toos Airlines, Varesh Airlines and Zagros Airlines.
OFAC also suspended 3 Iran aviation authorizations, including provisions covering payments for Iranian airspace overflights and certain flights into Iran using U.S. origin or U.S. controlled aircraft.
A wind down period runs until September 23, 2026, for transactions previously authorized under the suspended provisions.
The U.S. Treasury has issued a fresh round of Iran-related sanctions, per its website.
Three carriers were designated: Air Shiraz, ASA Jet Airline, and ATA Airlines.
Treasury is also suspending General License J-1, which had permitted the reexportation of some civil aircraft to Iran. The suspension takes effect Sept. 8.
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