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US Sanctions 39 Entities in Iran's Shadow Banking Network

US Sanctions 39 Entities in Iran's Shadow Banking Network

First seen 6 Nov 2026, 11:18 UTC • •
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ThreatCluster •November 6, 2026 at 11:19 UTC
  • •U.S. Treasury sanctioned 39 entities linked to Iran's shadow banking network.
  • •Sanctioned entities include front companies enabling trade for Iranian firms.
  • •The network reportedly generates tens of billions for the Iranian regime annually.

On November 6, 2026, the U.S. Department of the Treasury sanctioned 39 entities linked to a shadow banking network that facilitates trade for sanctioned Iranian companies, including Persian Gulf Petrochemical Industry Commercial Co. (PGPICC). These entities create front companies abroad to enable transactions for Iranian clients, allowing them to access the international financial system despite sanctions. The network reportedly generates tens of billions of dollars annually for the Iranian regime. This action is part of ongoing efforts to disrupt Iran's financial networks used for money laundering and sanctions evasion. The sanctions target multiple jurisdictions and are a response to Iran's complex sanctions evasion strategies, as highlighted by Deputy Secretary of the Treasury Wally Adeyemo.

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Timeline

2026-11-06
U.S. sanctions 39 entities
The U.S. Treasury's OFAC sanctioned 39 entities involved in a shadow banking network aiding sanctioned Iranian companies.
home.treasury.gov

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Common questions

What companies are affected by the sanctions?
The sanctions target 39 entities, including front companies that facilitate trade for sanctioned Iranian firms.
What is the purpose of these sanctions?
The sanctions aim to disrupt Iran's financial networks that enable sanctions evasion and money laundering.
How does this impact international trade with Iran?
These sanctions complicate trade with Iran by targeting entities that facilitate transactions, making it riskier for foreign companies.