State Department Cuts Off Billions of Dollars in Funding to Iranian Regime

The State Department said Tuesday it is "taking action" against dozens of entities and individuals behind Iran’s covert financial network, thereby cutting off billions of dollars to the Iranian regime.

The actions are part of the United States' maximum pressure campaign against Iran in the midst of the conflict in the Middle East. The U.S. and Israel launched an attack on Iran in February, which killed multiple Iranian leaders. 

The State Department said it is taking action against 35 individuals and entities helping Iran, including banking networks that enable the transfer of tens of billions of dollars to help Iran evade sanctions.