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US sanctions Iran’s shadow banking channels moving oil proceeds from China
US sanctions Iran’s shadow banking channels moving oil proceeds from China
The latest sanctions come as the Trump administration weighs Iran's latest proposal to end the war.
Elizabeth Hagedorn
May 1, 2026
US Treasury Secretary Scott Bessent testifies during a Senate Committee on Appropriations, Subcommittee on Financial Services and General Government hearing in the Dirksen Senate Office Building on April 22, 2026 in Washington, DC. — Chip Somodevilla/Getty Images
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WASHINGTON — The Treasury Department on Friday issued sanctions on three Iranian foreign currency exchange houses, aiming to cut off Tehran’s financial lifelines and force it to reopen the Strait of Hormuz.
The sanctions announced by the........
© Al Monitor
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