US issues fresh Iran-related sanctions as conflict flares
By Andrea Shalal
WASHINGTON, July 10 (Reuters) - The U.S. issued new Iran-related sanctions on Friday targeting a key financier for Iran's new leader Mojtaba Khamenei and 13 other individuals and entities, following Tehran's resumed attacks on oil tankers in the Strait of Hormuz, the Treasury Department said.
The sanctions took aim at Ali Ansari, an Iranian banker and businessman based in Dubai who had previously been sanctioned by Britain for his role in financially supporting the activities of Iran's Revolutionary Guards and other entities, Treasury said.
Treasury said Ansari had diverted publicly funded wealth into an extensive overseas portfolio of real estate and commercial holdings to enrich himself, governmentelites, and the Islamic Revolutionary Guard Corps (IRGC).
Treasury's Office of Foreign Assets Control (OFAC) also targeted three Iran-based exchange houses and foreign "front companies" that it said moved billions of dollars annually on behalf of sanctioned Iranian banks, using layers of shell companies to obscure the government's illicit activity.
"The United States is taking decisive action to cut off the financial lifelines sustaining Iran's ruling elite," State Department spokesman Tommy Pigott said in a statement. "By targeting these networks, the United States is directly disrupting the regime's ability to access foreign currency and conduct international financial activity."
The sanctions were announced on a day of relative calm after a week of renewed conflict, when three Qatari and Saudi commercial tankers came under Iranian fire, prompting the U.S. to hit Iranian sites, and Iran to respond with strikes on U.S. military sites in Gulf states.
U.S. President Donald Trump said on Friday that the ceasefire agreed with Iran was over, but Washington had agreed to continue talks at Iran's request.
Treasury Secretary Scott Bessent said in a statement that the department would "continue using every tool at its disposal" to isolate Khamenei and other top Iranian officials from the global financial system.
Iran has said it is ready for "all-out defense" if the U.S. violates the memorandum of understanding (MoU) agreedlast month. Its top negotiator, Mohammad Baqer Qalibaf, vowed on Telegram that the war would never end with Tehran's surrender.
Brett Erickson, managing principal at Obsidian Risk Advisors, said the new sanctions sent a clear message to Tehran. "Washington is no longer trying to salvage the existing framework. It’s preparing to replace it entirely,” he said.
Under Article 9 of the U.S.-Iran MoU, Washington agreed that it "will not impose any new sanctions and will not deploy additional forces in the region." Treasury said Ansari was previously the owner and director of the U.S.-sanctioned and now-bankrupt Ayandeh Bank, which was shuttered under Iranian government orders in mid-October 2025.
It said he used numerous shell companies and bank accounts across multiple jurisdictions to accumulate millions of dollars’ worth of holdings under the Saint Kitts and Nevis-based Smart Global Limited, a holding company established in 2011 that invested in real estate and commercial properties in Europe, the Gulf and other regions.
"Although held in Ansari’s name, many of these financial interests are ultimately held for the financial benefit of Mojtaba Khamenei, his family, and other Iranian elites in the regime and the IRGC who have protected Ansari from facing punishment despite his blatant corruption and the significant damage he has caused to the Iranian economy and people," Treasury said.
OFAC also announced measures against Iranian nationals involved with the three exchange houses, as well as Hong Kong-based CDM Trading Limited, which it said was conducting financial transactions for those exchange houses, and Naba Alzaki Raw Materials Trading LLC, which is based in the United Arab Emirates.
(Reporting by Andrea Shalal; Additional reporting by Ryan Patrick Jones; Writing by Christian Martinez; Editing by Katharine Jackson, Nia Williams and Sanjeev Miglani)
Facts Only
* The U.S. issued new Iran-related sanctions on Friday.
* Sanctions targeted Ali Ansari, an Iranian banker and businessman based in Dubai, and 13 other individuals and entities.
* The action followed Tehran's resumed attacks on oil tankers in the Strait of Hormuz.
* Ansari had been previously sanctioned by Britain for financially supporting Iranian Revolutionary Guards and other entities.
* Ansari allegedly diverted publicly funded wealth into overseas real estate and commercial holdings to enrich himself, government elites, and the IRGC.
* OFAC targeted three Iran-based exchange houses and foreign "front companies" moving billions annually on behalf of sanctioned Iranian banks via shell companies.
* The sanctions were announced after a week of renewed conflict involving attacks on commercial tankers and strikes on U.S. military sites in Gulf states.
* The U.S. agreed to continue talks with Iran despite the recent conflict.
* Treasury indicated intent to use tools to isolate Khamenei and other Iranian officials from the global financial system.
* Ansari was previously the owner of Ayandeh Bank, which was shut down by Iranian government orders in mid-October 2025.
* Financial interests were reportedly held for the benefit of Mojtaba Khamenei, his family, and IRGC elites.
Executive Summary
The United States implemented new Iran-related sanctions targeting individuals and entities following Tehran's resumption of attacks on oil tankers in the Strait of Hormuz. The sanctions specifically targeted Ali Ansari, an Iranian banker and businessman based in Dubai, who was previously sanctioned by Britain for financing Iranian Revolutionary Guard activities. Treasury stated that Ansari diverted public funds into overseas real estate and commercial holdings to enrich himself and entities like the IRGC. Furthermore, the Office of Foreign Assets Control (OFAC) targeted three Iranian exchange houses and foreign front companies suspected of moving billions in annual transactions for sanctioned Iranian banks through shell corporations. State Department officials indicated these actions aimed to disrupt Iran's access to foreign currency and international financial activity by cutting off financial lifelines supporting the ruling elite.
The announcement occurred amidst a period of renewed conflict between the U.S. and Iran, following attacks on commercial tankers, which prompted U.S. strikes and subsequent Iranian retaliations against U.S. military sites in the Gulf states. Despite this action, the U.S. agreed to continue discussions at Iran's request. The Treasury Department indicated a commitment to use all available tools to isolate key Iranian officials from the global financial system. Iran responded by asserting readiness for "all-out defense" should any agreement be violated, emphasizing that conflict would not end with surrender.
Full Take
The narrative presented illustrates a strategic pivot where financial tools are deployed to target perceived systemic beneficiaries rather than solely focusing on direct military action. The focus shifts from immediate conflict outcomes to isolating the financial infrastructure sustaining the regime. The mechanism described—using shell companies and overseas assets to accumulate wealth for elites—suggests a pattern of obfuscation designed to shield illicit flows from accountability, which is then targeted by sanctioning key financial conduits. This suggests that financial disruption is employed not just as a punitive measure, but as an attempt to dismantle the operational capacity of the ruling structure.
The framing where sanctions are presented as directly "cutting off the financial lifelines" for the ruling elite reflects a pattern in geopolitical conflict where economic pressure is integrated into security strategy. The reference to existing agreements (the MoU) and subsequent actions by the U.S. and Iran highlights an oscillation between formal diplomatic frameworks and unilateral enforcement, which creates systemic ambiguity about the stability of any established structure. The suggestion that previous sanctions were not sufficient ("preparing to replace it entirely") points toward a continuous feedback loop where external pressure necessitates escalating measures to achieve perceived strategic goals, raising questions about the long-term efficacy of such targeted financial isolation versus broader engagement strategies.
What mechanisms allow seemingly isolated financial transactions to remain integrated into state objectives? How does the prioritization of cutting off financial lifelines over achieving immediate political concessions shape the trajectory of international relations in protracted conflicts? What is the cost to the general populace when sovereign finance becomes the primary battleground for enforcement?
Sentinel — Human
The text exhibits strong characteristics of professional news reporting, relying on named sources and specific institutional references, indicating a high probability of human authorship.