Treasury Sanctions 18 Iranian Banks

The Treasury Department’s Office of Foreign Assets Control today announced sanctions against 18 Iranian banks, including 16 banks for operating in Iran’s financial sector and one bank for being owned or controlled by a sanctioned Iranian bank. OFAC also designated one Iranian military-affiliated bank under Treasury’s counter-proliferation authority. The new sanctions come as Iran continues to support terrorist activities and pursue weapons of mass destruction capabilities.

This action does not affect existing authorizations and exceptions for humanitarian trade, nor does it affect activities subject to a State Department-issued waiver or exception, or activities subject to an OFAC general or specific license, OFAC said.