OFAC sanctions individuals and companies accused of aiding Iran’s Revolutionary Guard and affiliated groups through financial and weapons networks.
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) recently announced new sanctions on individuals and companies accused of helping Iran evade U.S. sanctions, financing militia groups, and conducting intelligence operations in Iraq. The designations target entities connected to Iran’s Islamic Revolutionary Guard Corps–Qods Force (IRGC-QF) and the militia Kata’ib Hizballah. Several Iraqi bank executives were also sanctioned for allegedly laundering money and managing assets for Iran-linked militias.
“Treasury is targeting Iran-backed militia groups responsible for the deaths of U.S. personnel,” said Under Secretary John Hurley of the Office of Terrorism and Financial Intelligence. “Under Secretary Bessent’s leadership, we are working to dismantle the financial networks that enable these terrorist groups to operate. Cutting off their financial flows is essential to protecting American lives and our national security.”
The Treasury Department explained that sanctions enforcement seeks behavioral change rather than punishment, noting that removal from the sanctions list is possible through a formal petition.
As the Lord Leads, Pray with Us…
- For Secretary Bessent to be discerning as he heads the Treasury Department.
- For Under Secretary Hurley as he oversees the Office of Terrorism and Financial Intelligence.
- For U.S. officials as they identify and impose sanctions on those who support terrorist groups.
Sources: Department of the Treasury
