The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a new round of Iran-related sanctions on Thursday, targeting 16 individuals and 11 entities.
OFAC stated that the designated parties have been added to its Specially Designated Nationals (SDN) List.
The newly sanctioned targets encompass financial institutions, currency exchange businesses, as well as energy and trading firms.
Among the designated entities is Cuba’s Banco Internacional de Comercio S.A. (BICSA), which was penalized for its connections with Iran’s Karafarin Bank, an institution under sanctions since 2020.
“For too long, Communist Cuba has been allowed to operate as an outpost for malign actors and terror groups — including the Islamic Republic of Iran, the world’s number one state sponsor of terrorism — to target the United States,” US Secretary of State Marco Rubio said in a statement.
Responding on X, Cuban Foreign Minister Bruno Rodriguez characterized the measure as “aggressive.” He called BICSA “an absolutely legitimate bank whose transactions in Cuba and around the world are also absolutely legitimate.”
Additionally, the US targeted the Iraq-based International Development Bank for Investment and Finance with sanctions. According to the Treasury, the institution delivers financial services and facilitates access to US dollars for Iran.
This action follows measures taken in August, when the Trump administration introduced fresh sanctions against nearly 60 Iran-linked entities in an effort to isolate Iran from the broader global economy.
