The United States announced a coordinated sanctions package targeting senior Iranian security officials, Fardis Prison and an 18-member shadow-banking network accused of laundering oil and petrochemical revenues to finance domestic repression and support militant groups abroad. Fardis Prison was designated as an institution where women have faced what the U.S. described as cruel, inhuman and degrading treatment. Two Iranian banks, Bank Melli and Shahr Bank, were identified as connected to the network. Named firms included Iran-based Nikan Pezhvak Aria Kish Company, UAE-based Empire International Trading FZE and HMS Trading FZE, Singapore-based Golden Mist PTE. Enforcement will test the ability of authorities to trace opaque payment channels and to persuade third-country intermediaries to sever ties.

Source: Economic Times January 16, 2026 06:01 UTC