US Treasury Department tells banks to flag suspected Iranian money-laundering networks

The Treasury Department wants US banks and other financial institutions to monitor for suspected Iranian money-laundering networks that use their funds to smuggle sanctioned oil through shell companies and cryptocurrency networks. The move, which effectively deputises the global financial system to help disrupt Iran’s sanctions-evasion infrastructure, comes as the US and Iran reached another impasse over how to end their war while their ceasefire has grown increasingly shaky. US President Donald...