The department explained, “Operation Economic Outcast is severing the remaining economic lifelines that sustain the Iranian regime.”
The Department of the Treasury announced that, as part of Operation Economic Outcast, the Office of Foreign Assets Control (OFAC) designated a Turkey-based financial institution and its subsidiaries that facilitated correspondent banking and international funding transfers for the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).
“Financial institutions continue to find out the hard way that we are serious about Operation Economic Outcast,” said Secretary of the Treasury Scott Bessent. “While we hope no more banks will need to be sanctioned, that ultimately depends on how quickly the international community comes to its senses and ceases support of the murderous Iranian regime.“
“Operation Economic Outcast is severing the remaining economic lifelines that sustain the Iranian regime,“ the department explained. “Treasury has mapped the networks, facilitators, and financial channels that Iran uses to smuggle oil, evade sanctions, and fund terror. Working with partners across the U.S. government, the European Union, United Kingdom, Gulf partners, and others, Treasury is targeting any source of the regime’s illicit revenue, as well as its sanctions evasion schemes to move funds.“
As the Lord Leads, Pray with Us…
- For Secretary Bessent as he evaluates the international banking sector and how the Iranian regime has accessed and transferred revenue.
- For Treasury officials as they seek to isolate the Islamic Republic from international financial institutions.
Sources: Department of the Treasury
