US Sanctions 35 Entities and Individuals for Aiding Iran's Evasion Efforts

On April 28, 2026, the United States government escalated its stance against Iran by imposing sanctions on 35 individuals and entities. This move targets those significantly involved in Iran's shadow banking sector, which the US alleges helps fund activities supporting terrorism and disrupts global trade. The sanctions were announced by the Treasury Department's Office of Foreign Assets Control (OFAC).

According to US Treasury Secretary Scott Bessent, Iran’s shadow banking operations play a crucial role in providing financial support to the country’s armed forces. Bessent stated, "Iran’s shadow banking system serves as a critical financial lifeline for its armed forces, enabling activities that disrupt global trade and fuel violence across the Middle East."

The US Treasury claims that the designated entities and individuals have facilitated the movement of tens of billions of dollars tied to violations of sanctions. The imposition of these sanctions comes with a warning that further penalties could be directed at banks engaging in transactions with Chinese refiners, often termed "teapot" refineries, that are reportedly compensating for shipments transiting through the strategic Strait of Hormuz.

The sanctions reflect ongoing tensions between the United States and Iran, particularly regarding Iran’s nuclear programme and its regional influence. The US has long sought to curtail Iran's financial networks that are alleged to support militant activities.

This latest action illustrates the broader strategy employed by Washington to isolate Tehran economically while addressing concerns around its military capabilities and regional aggression.