US Treasury disrupts Iran's financial networks under Operation Economic Outcast

Sadegh Bavi: Sadegh Bavi is a Dominican/Iranian national and IRGC-Qods Force facilitator who owns currency exchange houses and trading companies assisting Iranian weapons purchases and money laundering. He maintains close ties with designated exchange entities and is designated for his role in shadow banking. Scott Bessent: Scott Bessent serves as U.S. Secretary of the Treasury and oversees sanctions policy and enforcement actions. He publicly announced and commented on the Operation Economic Outcast designations, emphasizing the tightening of economic pressure on Iran and its allies. Abolhassan Jalali: Abolhassan Jalali is an Iranian national who owns and operates Jalali Exchange, facilitating payments for Iran's shadow banking networks. He is designated for operating in the financial sector. Soheil Najafzadeh: Soheil Najafzadeh is an Iranian national who co-owns and operates Najafzadeh Exchange, processing large-scale transactions for sanctioned Iranian banks. He is designated for acting on behalf of the exchange. Sorush Najafzadeh: Sorush Najafzadeh is an Iranian national involved in owning and operating Najafzadeh Exchange to facilitate payments for Iran's shadow banking networks. He is designated for acting on behalf of the exchange. Golden Global Bank: Golden Global Bank is a financial institution referenced in the context of Iran's shadow banking networks used for sanctions evasion and money laundering. It exemplifies the types of banks targeted under Operation Economic Outcast to sever Iran's access to the U.S. financial system. Khaled Mohiesnejad: Khaled Mohiesnejad is an Iranian national involved in operating the Hosseini Parsa Exchange, which supports sanctions evasion for Iranian financial institutions. He is designated for acting on behalf of the exchange. Mansureh Mirmohammadi: Mansureh Mirmohammadi is an Iranian national designated for acting on behalf of Najafzadeh Exchange in support of Iranian financial sector activities. Sayyed Ruhollah Razavi: Sayyed Ruhollah Razavi is an Iranian national and top oil intermediary based in Dubai who facilitates oil sales and revenue repatriation for the Iranian regime. He manages companies involved in oil trading and refinery development and is designated for operating in Iran's petroleum sector. Ensiyeh Mullah Mohammadi: Ensiyeh Mullah Mohammadi is an Iranian national involved in operating Jalali Exchange to support sanctioned entities. She is designated for acting on behalf of the exchange. U.S. Department of State: The U.S. Department of State handles foreign policy, diplomacy, and certain sanctions designations related to national security and international affairs. It is concurrently designating the Cuba-based Banco Internacional de Comercio S.A. (BICSA) for providing services to an Iranian bank as part of coordinated actions against Iran's financial networks. Farab Sorough Qeshm Company: Farab Sorough Qeshm Company (FSAQ) is an affiliate of Iran’s Shahr Bank that processes foreign exchange transactions for Iranian oil sales companies and brokers. It relies on a network of specialists and shell companies and has multiple employees designated for supporting sanctions evasion. Seyyed Abbas Hosseini Parsa: Seyyed Abbas Hosseini Parsa is an Iranian national who owns and operates the Hosseini Parsa Exchange, assisting shadow banking activities linked to sanctioned Iranian banks. He is designated for acting on behalf of the exchange. Farzanegan Energy Pars Company: Farzanegan Energy Pars Company is an Iran-based entity developing a gas condensate refinery and controlled by Sayyed Ruhollah Razavi. It is designated for acting on behalf of Razavi in support of Iran's petroleum revenue streams. U.S. Department of the Treasury: The U.S. Department of the Treasury is the federal agency responsible for managing government finances, enforcing economic sanctions, and combating illicit financial activities through its Office of Foreign Assets Control. In this news, Treasury led Operation Economic Outcast by designating multiple Iranian-linked banks, offshore entities, and shadow banking operators to disrupt sanctions evasion and revenue flows supporting Iran's military and proxies. Elitesphere Trading Co., Limited: Elitesphere Trading Co., Limited is a Hong Kong-based company used by Farab Sorough Qeshm Company to move funds through shell companies and brokers. It is designated for facilitating Iranian sanctions evasion in the financial sector. Jazireh International Bank Company: Jazireh International Bank Company is an Iranian offshore bank operating in free trade zones and affiliated with Bank Mellat. It has been authorized by Iranian authorities to conduct foreign currency operations aimed at sanctions evasion and is now designated under relevant executive orders. Banco Internacional de Comercio S.A.: Banco Internacional de Comercio S.A. (BICSA) is a Cuba-based financial institution operating in the financial services sector of the Cuban economy. It has been designated for providing services to the Iran-based Karafarin Bank since at least 2022, linking it to Iranian sanctions evasion efforts. Tejarat Gostar Atlas Parsian Kish Company: Tejarat Gostar Atlas Parsian Kish Company is an Iran-based company managed by Sayyed Ruhollah Razavi and involved in his sanctions-evasion activities. It is designated for being owned or controlled by Razavi. Chabahar International Bank Overseas Company: Chabahar International Bank Overseas Company is an Iranian offshore bank affiliated with Bank Shahr and approved to operate using foreign currency for sanctions circumvention purposes. It is being designated for its role in Iran's financial sector evasion schemes. International Development Bank for Investment and Finance: International Development Bank for Investment and Finance (IDB) is an Iraq-based bank that facilitates U.S. dollar access and financial services for Iran. It was initially established by Iranian companies and maintains ties to Iranian entities and militia groups, leading to its designation for operating in Iran's financial sector. Operation Scope: Operation Economic Outcast involves ongoing collaboration with the European Union, United Kingdom, Gulf partners, and other international allies to map and disrupt Iran's illicit revenue channels. Sanctions Coordination: The U.S. Department of State and Treasury are conducting concurrent designations targeting Iranian financial networks linked to Cuba and other jurisdictions. Secondary Sanctions Risk: Entities engaging with designated Iranian persons or networks face increased exposure to secondary sanctions that can restrict their access to the U.S. financial system.