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Iran Funnels Billions through U.S. Banks
(Wall Street Journal) Rory Jones - Billions of dollars of Iranian funds are flowing through clearing accounts at American banks each year, Western officials and researchers say, despite sanctions that prohibit anyone subject to U.S. law from taking part in almost all financial activity linked to Tehran. Iran accesses the accounts through foreign partners that maintain relationships with U.S. banks, providing Tehran with plenty of ways to secretly infiltrate the global financial system. On Aug. 28, the U.S. Treasury identified the Emirati branch of state-owned Egyptian Banque Misr as one of the foreign institutions helping Iran access the U.S. banking system, and said it would move to cut it off. The Treasury said in 2025 it had identified $9 billion in Iranian funds that moved through American banks in 2024.