Washington, May 20 (H.S.): The United States has announced a fresh round of sanctions on Iran, intensifying economic pressure on Tehran. The latest measures target a foreign currency exchange company, its associated business network, and several vessels allegedly used by Iran to sustain international financial and oil-related operations.

According to the U.S. Department of the Treasury, a company identified as “Amin Exchange” was facilitating international fund transfers and foreign exchange transactions on behalf of Iranian banks. Washington claims that the network extended across multiple countries, including the United Arab Emirates, Türkiye and Hong Kong, and relied on complex business structures to evade existing sanctions.

The United States alleged that the network was providing Iranian entities with access to the global financial system. American officials stated that such activities undermine the economic sanctions already imposed on Iran.

As part of the same action, the United States also placed 19 vessels under sanctions. The U.S. administration alleged that these ships were being used to export Iranian oil and petrochemical products.

According to Washington, the vessels were transporting energy products to various countries, thereby generating economic benefits for Iran despite ongoing international restrictions.

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Hindusthan Samachar / Jun Sarkar