US Warns Partners On significant risk if they deal with Iran

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U.S. allies and partners will face “very significant risks” if they continue to do business with Iran, including the possibility of getting hit with sanctions from Washington.

The U.S. Treasury Department warned Tuesday that Iran’s use of shell companies and illicit financing to fund malign activities continued unabated, even after it signed the landmark 2015 nuclear deal. U.S. officials said they expected Tehran to ramp up such activities.

“The Iranian regime will deceive your companies, undermine the integrity of your financial systems and put your institutions at risk of our powerful sanctions, all to fund terrorism, human rights abuses and terrorist groups like Hezbollah, Hamas and the Houthis,” said Sigal Mandelker, undersecretary of the Treasury for terrorism and financial intelligence.

“We continue to see Iran use deceptive tactics, including front and shell companies to exploit markets in numerous countries,” Mandelker said during a speech at the Foundation for Defense of Democracies, a Washington-based think tank.