U.S. Treasury takes action to axe Iran’s international cash pipeline
The U.S. Treasury Department continued to take strong economic action against the Iranian regime on Friday, announcing action against multiple networks enabling Iran’s banking system to move hundreds of millions of dollars.
by Summer Lane | August 7, 2026
The Trump-led U.S. Department of the Treasury took swift action on Friday to crack down on the Iranian regime’s ability to move hundreds of millions of dollars across several countries.
Amid crippling sanctions and a continual beating from the U.S. military in the Middle East war, Treasury’s action is yet another economic squeeze on Iran.
“Iran’s shadow banking system is buckling under Economic Fury, and the regime is running out of ways to move money,” said Secretary of the Treasury Scott Bessent in a statement. “Every facilitator that keeps the regime afloat is putting a target on its own back. Treasury will continue to expose these networks and cut them off from the U.S. financial system.”
The Treasury Department’s Office of Foreign Assets Control moved to sever Iran’s rahbar banking system by targeting the Farab Soroush Afagh Qeshm and HMS Trading FZE – entities that, according to the agency, both serve to help the Iranian regime retrieve revenue from overseas oil sales.
The department identified the presence of many shell and front companies around the world that work to move Iranian revenue in the shadows in places like Hong Kong and Dubai.
In a concurring statement with the action, State Department Spokesperson Thomas Pigott noted, “Through these networks, Tehran accessed oil revenue and evaded sanctions designed to curb its destabilizing activities, laundering funds using front companies.”
He continued, “…By targeting the banks, exchange houses, and individual facilitators that operate this illicit system, the United States makes clear that those who help Iran evade sanctions will face serious consequences.”
This newest action comes amid the United States’ continual tug-and-pull with Iran over the Strait of Hormuz. As reported by LindellTV, the Iranian regime was reportedly mulling over a plan to ban U.S. and Israeli ships from the key shipping corridor until war damages have been compensated for.
It seems unlikely that Iran will get what they want on that front, if that’s the case. No deal has yet been officially struck by the U.S. with the Iranian regime.
Photo: Pixabay
