A statue of former Sen. Albert Gallatin stands at the Treasury Department in Washington, April 25, 2021.

US Targets Entities Funding Iranian IRGC Qods Force, Hezbollah

Wednesday, 01/31/2024

The United States has designated three entities and one individual as part of a network generating funding for the Iranian IRGC Qods Force and Hezbollah.

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the three entities and one individual located in Lebanon and Turkey.

The entities have been found to have generated hundreds of millions of dollars’ worth of revenue from selling Iranian commodities, including to the Syrian government, providing a key source of funding for the IRGC-QF and Hezbollah’s terrorist activities and support to other terrorist organizations throughout the region.

Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson emphasized the US's determination to prevent such exploitation of the international trading system by these groups, stating, “Today’s action underscores our resolve to prevent the IRGC-QF and its proxy terrorist groups from exploiting the international trading system to fund their destabilizing activities.”

Earlier this week, Iran International learned that the US and its European allies are considering boosting sanctions on Iran due to Tehran's recent regional behavior, particularly its support for Houthi forces.

On Monday, both the US and UK jointly announced a comprehensive sanctions package targeting a network implicated in assassination plots aimed at dissidents, including journalists associated with Iran International. The UK's sanctions specifically target Iranian officials linked to threats against Iran International TV journalists on British soil, alongside people associated with organized criminal groups collaborating with the regime.

Iran finds itself at the receiving end of a trifecta of sanctions, exacerbating its diplomatic and domestic challenges. Firstly, international scrutiny has intensified due to Iran's alleged violations of nuclear agreements, sparking concerns about its nuclear program's compliance with international protocols. Secondly, Iran's alleged supply of drones to Russia has drawn condemnation and punitive actions from several nations. The transfer of military technology to Russia not only exacerbates regional tensions but also raises concerns about the proliferation of advanced weaponry in conflict zones.

Adding to Iran's woes, a crackdown on protests has prompted international condemnation and punitive measures from several quarters. The suppression of dissent has triggered widespread condemnation, highlighting concerns about human rights violations and freedom of expression in Iran.

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