Terrorist Financing Targeting Center designates 25 targets affiliated with the Iranian regime

The Terrorist Financing Targeting Center (TFTC) has designated 25 targets affiliated with the Iranian regime’s terror-support networks in the region.

The designation is focused on entities supporting Iran’s Islamic Revolutionary Guard Corps (IRGC) and Hizballah. Several of these businesses are providing financial support to the Basij Resistance Force (Basij), a paramilitary force subordinate to the IRGC.

“The TFTC’s action coincides with my trip to the Middle East, where I am meeting with my counterparts across the region to bolster the fight against terrorist financing,” Secretary of the Treasury Steven Mnuchin said.

The TFTC, which consists of members from seven nations, was created by the Trump Administration in 2017.

“It is a bold effort to expand and strengthen the cooperation amongst seven countries — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, and the United States — to counter the financing of terrorism. The TFTC coordinates disruptive actions, shares financial intelligence information, and builds member state capacity to target activities posing national security threats to TFTC members,” Mnuchin said.

Specifically, 21 of these targets are businesses providing financial support to the Basij Resistance Force (Basij), while four of the targets designated by the TFTC today were Hizballah-affiliated individuals.

“The TFTC’s coordinated disruption of the financial networks used by the Iranian regime to fund terrorism is a powerful demonstration of Gulf unity. This action demonstrates the unified position of the Gulf nations and the United States that Iran will not be allowed to escalate its malign activity in the region,” Mnuchin said. “We are proud to join forces with our TFTC partners to expose and condemn the Iranian regime’s gross and repeated violations of international norms, from attacking critical oil infrastructure in Saudi Arabia to fomenting strife in neighboring countries through regional proxies such as Hizballah. This coordinated action is a concrete step towards denying the Iranian regime the ability to undermine the stability of the region.”

Dave Kovaleski

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