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The US imposed new sanctions on over a dozen Iranian individuals and companies in Hong Kong and the UAE, accusing them of illicitly transferring funds benefiting Iran's military. The Treasury Department stated the sanctioned entities aided the Islamic Revolutionary Guard Corps (IRGC) and Ministry of Defence, with some funds originating from Iranian oil sales. The sanctions, part of the Trump administration's effort to halt Iranian oil exports, prohibit US dealings with those targeted and freeze their US assets. Two Iranian nationals are accused of facilitating a $100 million cryptocurrency purchase for the Iranian government.

Prepared by Rachel Morgan and reviewed by editorial team.