US Imposes New Sanctions Targeting Iran’s Technology and Financial Networks
In a significant move aimed at restricting Iran’s economic activities and technological capabilities, the United States Treasury Department announced new sanctions on Thursday against seven individuals and eleven entities linked to Iran’s financial and technology sectors. The action forms part of the ongoing US strategy to curb Iran’s ability to evade existing sanctions, suppress dissent, and enforce controversial domestic policies such as mandatory hijab laws.
Treasury Secretary Scott Bessent described the sanctions as a continuation of “President Trump’s maximum pressure campaign,” emphasizing that the Iranian regime is increasingly isolated from the global financial system and “running out of places to hide.” He underscored that the Treasury will persist in efforts to disrupt Iran’s sanction evasion tactics, block its access to revenue, and starve its weapons programs of funding in order to protect US national security interests.
Scope of the Sanctions
The new sanctions target critical components of Iran’s banking infrastructure, offshore finance networks, and technology firms that supply surveillance tools used by the state. Among the designated entities is the RUNC Exchange System Company, the developer of Iran’s Cross-Border Interbank Messaging System (CIMS). This proprietary system enables Iran to bypass conventional international banking controls and facilitates financial transactions with already-sanctioned banks such as China’s Bank of Kunlun.
Another entity facing sanctions is Cyrus Offshore Bank, which operates out of Iran’s Kish Free Zone. The Treasury Department noted that this bank is secretly controlled by Parsian Bank, an institution already under US sanctions. Cyrus Offshore Bank has been implicated in routing oil revenue proceeds to the Islamic Revolutionary Guard Corps (IRGC), Iran’s powerful paramilitary force.
The technology sector was also targeted, notably with sanctions against Pasargad Arian Information and Communication Technology Company (FANAP). FANAP and its subsidiaries, according to the Treasury, have developed surveillance technologies used by Iran’s Ministry of Intelligence and the IRGC. These tools aid in monitoring citizens, enforcing internet restrictions, and identifying women who violate mandatory hijab laws, highlighting the sanctions’ focus on repression methods as well as financial activities.
Implications and Context
These actions further escalate the financial and technological pressures on Iran amidst the US administration’s efforts to isolate the country internationally. By striking at the heart of Iran’s banking and tech infrastructure — including covert financial networks and state surveillance apparatus — the US hopes to constrain Tehran’s ability to support its regional activities and domestic control mechanisms.
The sanctions come amid ongoing tensions between the US and Iran, with broader geopolitical implications involving Iran’s relations with China and other nations. The targeting of entities like CIMS and Cyrus Offshore Bank signals US intent to cut off sophisticated evasion routes facilitating Iran’s economic resilience.
As the situation develops, these measures indicate Washington’s commitment to an increasingly comprehensive approach combining financial restrictions and counter-surveillance initiatives to limit the Iranian regime’s capabilities on multiple fronts.
For further updates and detailed analysis on Iran’s political and economic landscape, stay tuned with Iran International.
