US slaps new sanctions on networks aiding Iran’s proxies in Middle East

The United States has imposed fresh sanctions on entities and individuals linked to aiding Iran's proxies in the Middle East, part of the Treasury's "Operation Economic Outcast." The latest measures, announced on August 24, aim to disrupt Tehran's funding for military activities, cyberattacks, and the Islamic Revolutionary Guard Corps (IRGC).

These sanctions target firms and individuals in Iraq, the UAE, Lebanon, and Turkey, supporting Kata'ib Hezbollah, an Iranian-backed group in Iraq, and Hezbollah, a Lebanese political party. Treasury also settled a US citizen's potential civil liability for 39 alleged sanctions violations and issued a broad appeal for tips on Iran's sanctions evasion and money laundering.

OFAC will deny most Iran-related licensing requests, except in exceptional cases, until Iran changes its behavior, including attacking US personnel and partners in the Gulf and pursuing nuclear and conventional weapons. The Iran conflict, now in its seventh month, has negatively impacted President Donald Trump's approval ratings and could threaten his Republican Party's chances in the November midterm elections.

The sanctions are hitting Iran's economy hard, with oil loadings and offloadings significantly reduced and the Iranian rial depreciating by about 30% against the US dollar.