Economic Fury Targets Networks Generating Billions for Iran’s Terrorist Regime

Action Targets More than 50 Companies, Individuals, and Vessels Generating Revenue for the RegimeWASHINGTON—Today, as a part of Economic Fury, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated a prominent Iranian foreign currency exchange house and associated front companies that oversee hundreds of millions of dollars in transactions on behalf of sanctioned Iranian banks. Collectively, Iranian exchange houses facilitate billions of dollars in foreign currency transactions each year, enabling the regime and its armed forces to evade sanctions, access the international financial system, and move funds derived from oil and petrochemical sales. OFAC today also blocked 19 vessels involved in Iranian petroleum and petrochemicals shipments to foreign customers, transactions that have generated hundreds of millions of dollars in revenue.