The Treasury Department on Tuesday issued new sanctions for entities and individuals the U.S. accuses of financing Iran’s military.

Washington targeted two “Iranian financial facilitators,” and more than a dozen individuals and entities based in Hong Kong and the United Arab Emirates that the Trump administration says have facilitated the sale of Iranian oil—the proceeds of which benefit Iran’s Islamic Revolutionary Guard Corps Qods Force (IRGC-QF) and Ministry of Defense and Armed Forces Logistics.

"Iranian 'shadow banking' networks like these—run by trusted illicit financial........

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