The shadow banking network allows Iranian companies to access the international financial system.
The United States has imposed sanctions on 39 financial institutions that created a “shadow banking network” through which Iran received billions of dollars in profits that exceeded the sanctions. This was reported by the press service of the US Treasury.
This structure allows Iranian Persian Gulf Petrochemical Industry Commercial companies to gain access to the international financial system. co. (PGPICC) and Triliance Petrochemical Co. Ltd. (Triliance), which is related to the trade of petroleum products.
It was noted that Iranian exchanges have set up front companies abroad to trade on behalf of their Iranian clients, while foreign exchange transactions are carried out through internal ledgers. These schemes have brought billions of dollars to the Iranian regime.
“Iran is cultivating complex sanctions-avoidance networks in which foreign buyers, exchanges and dozens of shell companies work together to help sanctioned Iranian companies continue to trade,” the US Treasury Secretary said. Wally Adeyemo.
Remember, on the eve of the UK imposed new sanctions against Iran for violating women’s rights.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.