U.S. Cracks Down: Sanctions Hit 18 Entities Aiding Iran’s Sanction Evasion & Revenue Schemes

Washington turns up the heat—again. The Treasury just blacklisted a network of 18 entities accused of being Tehran's financial lifeline, propping up Iran's economy despite global sanctions. Here's why it matters.

Sanctions? More like 'suggestions.' These shadowy middlemen—spanning fronts in Asia, Europe, and the Middle East—allegedly ran oil smuggling ops, crypto laundering, and phantom trade deals. Classic shell-game tactics, but with extra zeros.

The finance jab: Another day, another sanctions whack-a-mole. Banks will feign shock while compliance officers quietly update their 'Do Not Touch' spreadsheets—right after lunch at the club.

Targeting key players in Iran’s financial web

The new sanctions are focused on companies and individuals that provide Iran with a way to get around the financial restrictions imposed by the U.S. government.

RUNC Exchange is one of the main targets, a company accused of being involved in illegal money transfers, making it easier for Iran to sidestep American financial regulations.

Another big target is Cyrus Offshore Bank, a key player in moving money that Iran needs to fund its activities. Alongside these, Pasargad Arian Information and Communication Technology, an Iranian tech company, has been added to the list due to its connections to financial dealings linked to Iran’s controversial activities.

The Treasury’s efforts go beyond just freezing assets or imposing financial restrictions. This is part of an ongoing attempt by the U.S. to dismantle the network of firms and individuals helping Iran stay afloat economically.

Washington’s message is clear: businesses and institutions that choose to engage with Iran will face consequences. It’s a tactic that’s been ramped up in recent years, as Iran continues to search for ways to bypass sanctions and keep its economy moving, especially in sectors that fund its military ambitions.

Oil prices react to tariffs and sanctions

While the sanctions hit Iran, the broader global market is feeling the heat of new U.S. tariffs. On Thursday, U.S. tariffs against several trade partners went into effect, raising concern about economic slowdowns that could dampen demand for oil.

Early Friday trading saw Brent crude at $66.40 per barrel, with a week-over-week drop of more than 4%. Meanwhile, U.S. West Texas Intermediate (WTI) futures slid to $63.82 a barrel, marking a more than 5% decline over the week.

The market reaction stems from fears that global economic growth could slow due to these tariffs. In turn, this could reduce the demand for crude oil, as noted by ANZ Bank analysts. This comes on top of decisions made by the OPEC+ group to roll back significant oil output cuts sooner than expected, pushing oil prices even lower.

At the same time, the Kremlin confirmed that Russian President Vladimir Putin and U.S. President Donald TRUMP would meet soon to discuss the ongoing war in Ukraine.  This diplomatic effort is expected to have a major impact on global markets.

Even though Russia’s oil exports continue despite sanctions, new tariffs on India for buying Russian crude oil have kept pressure on oil prices, with analysts warning that the tariff MOVE won’t drastically reduce the flow of Russian oil into global markets.

Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.