US sanctions Iraqi bank in Iran-linked network
Shafaq News- Washington
The US Treasury Department on Thursday announced new sanctions targeting Iran-linked networks accused of circumventing US sanctions, covering 16 individuals and 10 entities, including an Iraqi bank.
The Treasury’s Office of Foreign Assets Control (OFAC) designated Iraq-based International Development Bank for Investment and Finance (IDB), accusing it of providing Iran with access to US dollars and maintaining ties with Iranian government entities and Iran-aligned armed groups.
The measures also targeted Iranian offshore banks, exchange houses, financial operatives and oil intermediary Sayyed Ruhollah Razavi, whom Washington accused of helping move Iranian funds and oil revenues through foreign companies and financial networks.
Today, as part of Operation Economic Outcast, Treasury disrupted Iran’s efforts to infiltrate the international financial system through an Iraqi bank that also supports Iran’s terrorist proxy militia groups. By dismantling these institutions—including offshore banks and shadow financiers that have moved hundreds of millions of dollars through shell companies and foreign‑exchange specialists across the Middle East and Asia—Treasury is severing critical revenue streams that sustain Iran’s military and proxy forces. https://t.co/oQnsonnczK
— Treasury Department (@USTreasury) October 15, 2026
On October 8, the Treasury Department sanctioned 17 vessels it said were part of Iran’s remaining shadow fleet.
