US imposes new sanctions on networks aiding Iran's proxies

The United States has intensified its economic campaign against Iran and its regional proxies, announcing new sanctions targeting financial networks in Iraq, the United Arab Emirates, Lebanon, and Turkey. The Treasury Department's actions, part of a broader initiative dubbed Operation Economic Outcast, aim to disrupt funding for groups like Hezbollah and Kataib Hezbollah, which Washington designates as terrorist organizations. Treasury Secretary Scott Bessent stated the sanctions are designed to "cut them off from the U.S. financial system and dismantle the networks keeping the regime afloat." The measures target individuals and businesses accused of supporting these groups, including senior Kataib Hezbollah commander Ali Hasan Farhan Al-Lami and several entities linked to Iraq's Popular Mobilization Forces. The Treasury also announced a settlement with a U.S. citizen who agreed to pay $1.43 million for sanctions violations and issued a whistleblower appeal for information on evasion. Bessent indicated that a large bank would be sanctioned next week, though he did not name the institution or its country. A U.S.