US hits Iranian bank, companies with new sanctions

WASHINGTON (AP) — The Trump administration is moving to break up a group of Iranian-linked companies that has transferred around $1 billion to Iran in violation of U.S. sanctions on the country.

The Treasury says it’s hitting a network of 25 people, firms and Iranian government agencies with sanctions for evading penalties the U.S. put in place last year after withdrawing from the 2015 Iran nuclear deal. It’s also putting foreign companies on notice that they will face U.S. sanctions if they do business with the targeted entities.

The action identifies four firms based in Iran, Turkey and the United Arab Emirates as front companies for Iran’s Ansar Bank that has been funneling money to Iran’s Revolutionary Guard Corps and related groups in violation of U.S. sanctions.