US Treasury adds Iran-linked individual, Hong Kong-based company to sanctions list

The US Treasury Department announced on Friday that it added an Iran-linked individual and a Hong Kong-based company to its sanctions list, as Washington steps up pressure on Tehran and entities accused of helping it evade sanctions.

Reza Mohammad Taeedi, a Dubai-based Iranian national and the general manager of the Dubai branch of Iran's Bank Melli, was added to the Office of Foreign Assets Control's (OFAC) Specially Designated Nationals (SDN) List.

Taeedi is subject to secondary sanctions and was designated under counterterrorism and Iran-related authorities.

The department also designated Kameng Trading Limited, a Hong Kong-based company established in July 2024, under an Iran-related executive order.

The moves came alongside US action targeting Banque Misr's operations in the United Arab Emirates over alleged support for Iranian shadow-banking networks.

"Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime," Treasury Secretary Scott Bessent said in a statement to the Financial Times.

"We also warned that Iran's enablers cannot continue to enjoy access to the US dollar and the global financial system. Banque Misr UAE decided to find out the hard way and, today, we are taking the first step in holding it accountable for its continued, egregious support of the Iranian regime."

The Treasury said its measures form part of broader efforts to disrupt Iran's shadow-banking network and restrict access to foreign currencies and the global financial system.