US Imposes Sanctions on 35 Individuals, Entities for Aiding Iran’s Sanctions Evasions

Washington: The U.S. government ratcheted up pressure on Tehran on Tuesday, imposing ?sanctions on 35 entities and individuals for their roles in Iran’s shadow banking sector, and threatened sanctions against banks doing business with Chinese “teapot” refineries that it ?said are paying tolls for shipments to cross the Strait of Hormuz. The Treasury Department’s Office of Foreign Assets Control said the designated individuals and firms had facilitated the movement of the equivalent of tens of billions of dollars tied to sanctions evasion and what it called Iran’s sponsorship of terrorism. OFAC separately warned banks against doing business with any firm…