The United States has issued a new wave of sanctions against Iran, targeting people and entities it says are involved in illicit fund transfers that benefit the country’s military activities.

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) confirmed on Tuesday that it had sanctioned more than a dozen Iranian individuals and companies based in Hong Kong and the United Arab Emirates.

Those targeted, the OFAC said, had helped to move funds for the benefit of the Islamic Revolutionary Guard Corps (IRGC) and the Iranian Ministry of Defence.

Some of the money came from the sale of Iranian oil, the US Treasury added.

“Iranian ‘shadow banking’ networks like these — run by trusted illicit financial facilitators — abuse the international financial system, and evade

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