US sanctions 8 Canadian companies suspected of links to Iranian financial networks
The US Treasury Department has added financial services and money transfer companies operating in Toronto, Vancouver and Montreal, as well as cryptocurrency wallets linked to them, to its sanctions list.
The US Treasury Department announced new Iran-related sanctions on November 6. The sanctions cover eight companies registered in Canada.
According to the information, the sanctions were imposed on eight Canadian companies specialising in financial services and money transfers, as well as on cryptocurrency wallets linked to them. The measures were taken under Executive Order 13902.
The sanctions target entities located in the cities of Toronto, Vancouver and Montreal. The US side suspects these entities of being linked to Iranian financial networks.
Executive Order 13902 was signed in January 2020 and authorises the United States to impose sanctions on persons operating in sectors of Iran's economy such as construction, mining, manufacturing and textiles, as well as in other sectors.
