US sanctions Iranian financial network that supports Hamas and Hezbollah

Jacob Magid is The Times of Israel's US bureau chief

WASHINGTON — The US Treasury Department announces another series of sanctions against 20 individuals and entities involved in a financial network benefiting Iran’s defense ministry, military and the Islamic Revolutionary Guard Corps’ elite Quds Force.

“Iran’s commodity sales, carried out through a network of foreign-based front companies, provide revenue that helps the regime to continue its support for terrorist groups such as Hamas and Hezbollah. Iranian military entities and their business partners enable these sales and exploit the international financial system to recoup the revenue,” the State Department says in a statement.

“The Iranian regime uses this illicit revenue to support conflict and spread terror throughout the Middle East. The United States will continue to disrupt Iran’s funding support for terrorists,” the statement adds.

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