US Treasury Sanctions Iran Proxy Networks Across 4 Countries — SkimNews
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- US Treasury announced new sanctions Thursday on entities and individuals in Iraq, the UAE, Lebanon, and Turkey supporting Hezbollah and Kata'ib Hezbollah, part of 'Operation Economic Outcast' launched August 24 to cut off Tehran's funding for the war, missile construction, and the IRGC.
- OFAC said it will deny most Iran-related licensing requests except in exceptional circumstances, conditioning any reversal on Iran ceasing to obstruct the Strait of Hormuz, attack US personnel and partners in the Gulf, and pursue nuclear and conventional weapons.
- A US citizen agreed to pay $1.43 million to settle civil liability for 39 apparent sanctions violations against Iran, while Treasury issued a broad whistleblower appeal for tips on sanctions evasion and money laundering.
- Iranian oil loadings fell to roughly 0.2 million barrels per day over the past 30 days from 1.8 million bpd in January and February, with a US official crediting Treasury sanctions and the naval blockade for the squeeze.
- The Iranian rial depreciated about 30% versus the US dollar since the war began, food prices rose sharply, and Iranian or suspected Iranian oil on the water averaged 110 million barrels in the past week, down from over 180 million in January and February.
- The sanctions notably did not target Iran-aligned Houthis, who seized Yemen's port city of Mocha on Thursday and advanced down the Red Sea coast toward the Bab el-Mandeb Strait.
- Brett Erickson of Obsidian Risk Advisors called the latest measures 'marginal,' saying they 'in no way move the needle' on Iran's ability to move hard currency and that the Houthis are the 'far more consequential' proxy disrupting global energy markets.
Why it matters: Treasury sanctions are visibly squeezing Iran's economy — oil loadings down roughly 89% since January, rial off 30% — but the package pointedly skips the Houthis, who seized Yemen's Mocha port the same day and are advancing toward the Bab el-Mandeb Strait that OFAC itself named as a trigger for its policy. The financial war is working on Tehran's wallet; the proxy war is widening on the shipping lanes Treasury can't reach.
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