US issues new Iran-related sanctions against 16 individuals, 11 entities

The United States on Thursday issued a new round of Iran-related sanctions targeting 16 individuals and 11 entities. The Treasury Department's Office of Foreign Assets Control said it added them to its specially designated nationals list. The new sanctions targets include financial institutions, currency exchange firms and energy and trading companies. One of these entities is Cuba's Banco Internacional de Comercio. The bank was targeted due to its ties with Iran's Karafarin Bank, which has been under sanctions since 2020. The U.S. also imposed sanctions on the Iraq-based International Development Bank for investment and finance. The Treasury said the institution provides financial services and U.S. dollar access for Iran. In August, the Trump administration had already imposed fresh sanctions on nearly 60 Iran-linked entities as it hoped to cut off Iran from the rest of the global economy.