U.S. Secretary of State Antony Blinken announced that his department is imposing sanctions against 39 entities believed to be assisting Iranian clients in illegally engaging in trade.
The U.S. State Department’s March 9 announcement outlined sanctions against dozens of “shadow banking” entities spread across several countries that would be subjected to the sanctions due to affiliation with Iranian groups.
Front Companies Used
In order to facilitate commerce on behalf of their Iranian clients and assist them in avoiding U.S. sanctions, Iranian currency exchange businesses establish front companies abroad. The Iranian government has made tens of billions of dollars from businesses using these networks in a range of industries.The U.S. State Department asserted that they plan to keep up its efforts to thwart attempts to circumvent its sanctions.
The Treasury Department cited the Persian Gulf Petrochemical Industry Commercial Co. (PGPICC) and Triliance Petrochemical Co., Ltd. (Triliance) as two of the organizations being used to obfuscate United States trade sanctions.
Iranian Presence in Latin America
Iran has been in the headlines in recent days since it was discovered that they have docked warships off the coast of Brazil, as The Epoch Times previously reported.The event, which took place between Feb. 26 and March 4 and sparked controversy among democratic nations in the region.
The presence of the warships, according to political and security sources, is a result of a new wave of leftist politicians that has swept across Latin America in recent years, including Brazil’s new president.
According to commentators, Iran appears to be delivering on its promise to moor warships in the Panama Canal by the end of 2023.
Brazil’s former minister of foreign affairs, Ernesto Araujo, told The Epoch Times, “The big picture here doesn’t look good.”