Economic Fury Targets Iranian Shadow Banking Networks Moving Billions in Foreign Currency | Metals Mine

  • Economic Fury Targets Iranian Shadow Banking Networks Moving Billions in Foreign Currency

    From home.treasury.gov

    Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating three Iranian foreign currency exchange houses and their associated front companies as part of Economic Fury and Treasury’s ongoing efforts to disrupt the Iranian regime’s financial lifelines that sustain its war effort. Collectively, Iranian exchange houses facilitate billions of dollars in foreign currency transactions each year. Because Iran primarily settles its oil sales in Chinese yuan, these exchange houses play a critical role in converting oil revenues into currencies that are more readily useable by the ... (full story)

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thatherton
May 1, 2026 12:54pm
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