The Trump administration has dropped the hammer on Iran’s secretive financial lifeline, issuing sweeping new sanctions targeting more than 30 individuals and entities accused of running a shadow banking network used to fund the regime’s nuclear and missile programs.
The sanctions, announced on June 6, expose a sophisticated global money-laundering system operating through front companies in the United Arab Emirates and Hong Kong. This network has been quietly moving billions of dollars on behalf of sanctioned Iranian entities, including the National Iranian Oil Company, the Islamic Revolutionary Guard Corps Quds Force, and the Ministry of Defense.
At the heart of the operation are three Iranian brothers—Mansour, Nasser, and Fazlolah Zarringhalam—who run multiple exchange houses and shell companies, including GCM Exchange and Zarrin Ghalam Exchange. The group allegedly masked illegal transactions behind fake invoices and offshore accounts, allowing the regime to skirt existing U.S. and international sanctions.
Treasury Secretary Scott Bessent described the network as a “critical lifeline” for Tehran’s rogue operations, saying, “This shadow banking system helps fund terrorism, regional chaos, and nuclear ambitions. We’re cutting it off at the source.”
Under the sanctions, any U.S.-based assets held by the listed individuals or companies are frozen, and all American citizens and entities are barred from conducting any transactions with them.
The move comes as President Trump intensifies his maximum-pressure campaign against Iran, firmly rejecting calls from some in Washington to allow Tehran limited uranium enrichment for civilian purposes. Trump has made it clear: there will be no deal that leaves Iran with the infrastructure to pursue nuclear weapons.
The timing is strategic. As Iran continues to push for concessions in stalled negotiations, the administration is demonstrating that the U.S. won’t back down. These sanctions not only disrupt Iran’s access to billions in oil revenue—they send a powerful message to allies and adversaries alike: under President Trump, America is done playing games with Tehran’s terror-linked regime.