US sanctions three Iranian currency exchange firms
The US Treasury Department announced sanctions against three Iranian foreign exchange companies, accusing them of helping Tehran convert oil revenues into currencies more easily used by the Iranian military and its regional proxies.
The targeted firms, Opal Exchange, Radin Exchange and Tahayyori Guarantee Society, along with their associates, are now barred from the US financial system.
Treasury Secretary Scott Bessent said the action reflects Washington's commitment to disrupting Iran's financial networks.
"We will relentlessly target the Iranian government's ability to generate, move and repatriate funds," Bessent said in a statement.
The sanctions freeze any US-held assets of the designated entities and prohibit American individuals and businesses from conducting transactions with them.
Iran is the head of the snake for global terrorism, and under @POTUS’ leadership, Treasury is moving aggressively, through Economic Fury, to sever the Iranian military’s financial lifelines. We will relentlessly target the regime’s ability to generate, move, and repatriate funds,… https://t.co/XeTLbeIjOf
— Treasury Secretary Scott Bessent (@SecScottBessent) May 1, 2026