US Sanctions 16 Iranians and 11 Mixed-Nation Entities
9 sourcesUpdated Oct 15, 20261 min read
The United States expanded its Iran-related sanctions, adding 16 Iranian individuals and 11 entities, including Cuba’s Banco Internacional de Comercio and Iraq’s International Development Bank. The Cuban bank was targeted over allegations that it provided services to Iranian financial institutions; other designated entities are based in Iran, Iraq and Hong Kong. The Treasury Department issued a general license allowing transactions needed to wind down dealings involving the Iraqi bank through October 30. The sanctions generally freeze assets under U.S. jurisdiction and prohibit U.S. persons and companies from doing business with those designated.
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“US imposes new Iran-linked sanctions”Giving the Iraqi bank until October 30 to unwind dealings avoids sudden damage to their customers.
Sanctioning the Cuban bank for aiding Iranian institutions targets a real loophole that needs closing.
