The United States on Thursday sanctioned seven people and 11 entities allegedly tied to Iran’s financial and technology networks in what the Treasury Department described as a crackdown on sanctions evasion, repression and hijab law enforcement.
“As a result of President Trump’s maximum pressure campaign and increasing isolation from the global financial system, the Iranian regime is running out of places to hide,” said Treasury Secretary Scott Bessent.
“Treasury will continue to disrupt Iran’s schemes aimed at evading our sanctions, block its access to revenue, and starve its weapons programs of capital in order to protect the American people.”
The designations target Iran’s banking systems, offshore finance networks and technology firms providing surveillance tools to the state.
Among the entities sanctioned is the RUNC Exchange System Company, which developed Iran’s Cross-Border Interbank Messaging System (CIMS), designed to bypass conventional banking controls and facilitate cooperation with sanctioned banks like China’s Bank of Kunlun.
The Treasury also designated Cyrus Offshore Bank, which it said operates from Iran’s Kish Free Zone and is secretly controlled by the already-sanctioned Parsian Bank.
According to the press release, Cyrus Bank has helped route oil proceeds to the Islamic Revolutionary Guard Corps (IRGC).
Other sanctions focused on Pasargad Arian Information and Communication Technology Company (FANAP), a tech firm linked to Iran’s Ministry of Intelligence and the IRGC.
The Treasury said FANAP and its subsidiaries have developed tools used to surveil citizens, enforce internet restrictions, and identify women who defy mandatory hijab laws.
