The U.S. Department of the Treasury deployed fresh measures targeting illicit financial channels, including eight Canada-based entities and Seychelles-registered cryptocurrency exchange MEXC Global. U.S. banks are now prohibited from processing transactions with the exchange, which officials accused of handling at least $16 billion in illicit funds for Iran, Russia, and North Korea. This action follows earlier penalties imposed against networks supporting Iranian oil exports and airlines across India and Turkey. Treasury Secretary Scott Bessent emphasized that the administration will continue to penalize any foreign entities aiding Tehran.
Key points
The United States is actively holding diplomatic discussions with Iranian officials while…: The United States is actively holding diplomatic discussions with Iranian officials while simultaneously expanding financial penalties.
Enforcement measures this week expanded globally to target entities aiding Tehran across…: Enforcement measures this week expanded globally to target entities aiding Tehran across Canada, India, Turkey, and Seychelles.
Treasury Secretary Scott Bessent confirmed that the administration plans to persist in pu…: Treasury Secretary Scott Bessent confirmed that the administration plans to persist in pursuing any foreign parties supporting Iran.
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US President Donald Trump said on Friday that his administration was in talks with Iranian representatives, telling reporters: "We are doing very well with Iran."
His comments came as the US Treasury Department imposed new Iran-related sanctions on eight entities based in Canada, according to a notice on its website.
In a separate move on Friday, the Treasury blocked US banks from dealing with MEXC Global, a cryptocurrency exchange registered in the Seychelles.
It accused the exchange of handling at least $16bn in illegal transactions linked to Iran, North Korea and Russia, helping them get around sanctions.
On Thursday, the Treasury sanctioned companies and individuals in India and Turkey that it accused of helping Iran evade restrictions on its oil exports and airlines.
Treasury Secretary Scott Bessent said the same day that Washington would continue to pursue anyone supporting Tehran.
Trump on Iran: We're talking to Iran. https://t.co/JpB2tdKePS
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