US Treasury sanctions 16 individuals and 10 entities over Iran links

The US Treasury Department has imposed a sanctions package targeting 16 individuals, 10 entities, and the International Development Bank for Investment and Finance.

• The US Treasury has announced sanctions on 16 individuals and 10 entities linked to Iran.
• The package restricts financial transactions involving the International Development Bank for Investment and Finance, isolating it from the dollar-based banking system.
• OFAC said the measures freeze the listed names' assets in the US and bar American persons from dealing with them.
• The Treasury warned foreign financial institutions of secondary sanctions for providing services to the listed networks.