Trump claims Iran wants Hormuz open, US sanctions Iran's 35 entities

You just need a pathway for ships to be moved in and out, I think that can happen quickly, Wright reportedly told Bloomberg. Trump is reportedly not satisfied with Iran's latest peace proposal, which seeks to reopen the Strait of Hormuz and end the U.S. naval blockade of Iran's ports, while leaving its nuclear program for later negotiations, according to U.S. media, citing several White House officials. Trump insisted last week that any peace deal with Iran would be made on U.S. terms and his timeline, claiming there is no time frame for ending the U.S.-Israeli war with Iran and no time pressure on either the extended ceasefire or stalled talks. Meanwhile, 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, reported ANI. 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 banking system serves as a critical financial lifeline for its armed forces, said Treasury Secretary Scott Bessent. Financial institutions are on notice: Any institution that facilitates or engages with these networks is at risk of severe consequences. The firms allegedly use shell accounts in foreign jurisdictions to grant sanctioned entities illicit entry to international finance. Several of the companies are tied directly to former officials and state-controlled institutions. Farab Soroush Afagh Qeshm (FSAQ) is affiliated with Shahr Bank and managed by Hossein Yaghoobi, a former Vice Governor of the Central Bank of Iran. Khavar Tejarat Arka Kish, linked to Eghtesad Novin Bank, is directed by Ehsan Moslehi and Ehsan Saidi Nasab. Rahbar Tejari Setareh Taban Kish is tied to Bank Sepah, which has been cited as a key financier for Iran's ballistic missile program. Aku Tejarat Ravizh Kish is affiliated with Bank Sina and reportedly controlled by the Supreme Leader's Office. Naghsh Simorgh Sahand LLC, connected to Parsian Bank, is managed by Mahmud Tadayyon and Abdolazim Ghanbarian. Tejarat Sarir Afrooz Kish is linked to Bank Mellat and directed by Fahim Maleki and Maryam Anbardaran. The use of shell accounts abroad by these Rahbar companies raises concerns over ongoing sanctions evasion efforts designed to fund activities prohibited under international restrictions. The designations also struck at the international nodes of these networks, specifically those moving funds for the National Iranian Oil Company (NIOC). United Kingdom Connections: OFAC designated UK-based Shuqun LTD, which transferred over 70 million for Iranian oil in 2024. Its owner, Janelyn Eusebio Emperador, and her other firms (Sanovo LTD and Qianza LTD) were also sanctioned. The Bank Melli Network: Front companies, including Fratello Carbone Trading, RQI Commodity HK, and Gasolix International, were exposed for laundering millions for the IRGC and NIOC. Strait of Hormuz Tolls: In a significant policy warning, OFAC issued guidance (FAQ 1249) stating that paying tolls to Iran or the IRGC for passage through the Strait of Hormuz now carries heavy sanctions risk. This action, taken under EO 13902 and EO 13224, brings the total number of sanctioned Iran-related targets to approximately 1,000 since February 2025. All US-based property of these 35 targets is blocked. Foreign financial institutions risk losing US correspondent account access if they continue to deal with these entities. OFAC may impose civil penalties for violations regardless of intent. The Treasury emphasised that the ultimate goal of these sanctions is to force a positive change in behaviour by making the cost of state-sponsored destabilisation unsustainable. The action, carried out by the Office of Foreign Assets Control (OFAC), targets networks accused of facilitating the movement of tens of billions of dollars tied to sanctions evasion and Iran's alleged support for terrorism. As per the statement, these networks allow Iran's armed forces, including the Islamic Revolutionary Guard Corps (IRGC), to access the international financial system to receive payment for illicit oil sales, purchase sensitive components for missiles and other weapons systems, and transfer money to Iran's terrorist proxies. Illicit funds funnelled through this network support the regime's ongoing terrorist operations, posing a direct threat to US personnel, regional allies, and the global economy. Financial institutions are on notice: Any institution that facilitates or engages with these networks is at risk of severe consequences, he said. The rahbar companies closely coordinate with Iranian exchange houses and a myriad of front companies in multiple jurisdictions to facilitate payments for Iran's sanctioned trade, including on behalf of the IRGC, Iran's Armed Forces General Staff (AFGS), Iran's National Iranian Oil Company (NIOC), and other sanctioned entities, as per the statement. As per the statement, the OFAC is taking additional actions against the rahbar companies of multiple sanctioned Iranian banks, including the Supreme Leader's Office-controlled Bank Sina and military-affiliated Bank Sepah, a key provider of financing for Iran's ballistic missile program, which continues to threaten the interests of the United States and its allies. Operation Economic Fury comes in the wake of Operation Epic Fury, a major joint military campaign launched by the United States and Israel on February 28, 2026, aimed at dismantling Iran's nuclear and military capabilities. The campaign involved large-scale strikes on Iranian military infrastructure, significant degradation of its defence systems, and a subsequent ceasefire announced on April 8.