US Treasury sanctions Hong Kong-based firm over Iran money laundering ties

The United States announced sanctions on a Hong Kong company on Friday for allegedly helping launder funds for a sanctioned Iranian exchange house, the latest Chinese entity to be targeted as part of Washington’s expanded efforts to squeeze Iran’s financial sector. The development comes as Washington has in recent days

Treasury Secretary Scott Bessent announced Friday that he is working to cut off bank branches in the UAE from the U.S. financial system.

Banque Misr UAE processed about $1.8 billion over two years for some 100 companies that are potentially part of Iran's shadow banking network, Treasury said.

US Treasury Secretary and Bahraini finance minister discuss Iran sanctions US Treasury Secretary Scott Bessent in a call with Bahrain’s finance minister discussed the latest sanctions against Tehran, emphasising the "importance of sustained financial pressure on Iran’s remaining economic lifelines". The US Treas

In an effort to hobble Iran's economy, the United States earlier this week threatened to punish countries that continue to do business with Iran but said it would not impose penalties immediately.