US Sanctions Another Hong Kong Firm Over Iran Shadow Banking
Treasury says Kameng Trading helped an Iranian exchange house launder money, days after a broader U.S. action targeted other Hong Kong entities.
TL;DR
- The U.S. sanctioned Hong Kong company Kameng Trading Limited on August 28.
- Kameng Trading is accused of helping the Iranian Pedram Pirouzan Exchange House launder money.
- The company allegedly used an overseas financial network for these activities.
- The Treasury Department's OFAC designated Kameng for operating in Iran's financial sector.
- Kameng's assets under U.S. jurisdiction are blocked, and U.S. persons are prohibited from transactions with it.