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The Treasury sent letters to China, Hong Kong, the United Arab Emirates, and Oman seeking their cooperation.
The Treasury sent letters to China, Hong Kong, UAE, and Oman about banks aiding Iran.
KEY POINTS
- Iran processed at least $9 billion through U.S. correspondent accounts in 2024 using front companies.
- The U.S. is letting its waiver for the sale of Iranian oil expire on April 19.
- The Treasury urged foreign banks to identify and cease Iran-related financial activity, including through front companies.
COMPANIES
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