Leaked Records Reveal Iran’s Shadow Banking Network Remains Largely Untouched by US Sanctions
An investigation by Iran International reveals that US sanctions have failed to dismantle Iran’s shadow banking network, which continues to move billions of dollars through over a dozen banks in China and the UAE. While Washington targeted only two of the 15 identified foreign banks in August, the majority remain operational, allowing Tehran to bypass restrictions via complex layers of shell companies and currency brokers.