Washington DC, April 28 -- In a major escalation of its "Economic Fury" campaign, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) on Tuesday designated 35 entities and individuals central to Iran's clandestine shadow banking network.

The move aims to choke off a financial lifeline that has moved tens of billions of dollars to fund the Iranian regime's armed forces, missile programs, and regional terrorist proxies.

Iranian banks, largely severed from the formal international financial system, utilise private management firms known as "rahbars." These entities oversee thousands of overseas shell companies that bypass sanctions to execute payments for Iranian oil and sensitive military imports.

"Iran's shadow b...