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Treasury Department Tells US Banks to Flag Suspected Iranian Money-Laundering Networks

A general view of the Treasury Building on day two of a partial government shutdown in Washington, DC, US, February 1, 2026. (Reuters)
A general view of the Treasury Building on day two of a partial government shutdown in Washington, DC, US, February 1, 2026. (Reuters)
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Treasury Department Tells US Banks to Flag Suspected Iranian Money-Laundering Networks

A general view of the Treasury Building on day two of a partial government shutdown in Washington, DC, US, February 1, 2026. (Reuters)
A general view of the Treasury Building on day two of a partial government shutdown in Washington, DC, US, February 1, 2026. (Reuters)

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 crypto networks.

The move, which effectively deputizes 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.

President Donald Trump on Monday said the Iran ceasefire is on “life support” after he rejected Tehran’s latest proposal to end the war.

The Trump administration is calling on banks to flag certain customers who may launder funds for Iran’s Revolutionary Guard, including newly formed companies moving unusually large amounts of money, firms that route payments through multiple intermediaries or transactions connected to Iranian crypto firms, among other indicators.

As part of the US initiative to monitor Iranian oil sales, banks are being asked to watch out for oil labeled as “Malaysian blend” to disguise its Iranian origin, missing or falsified shipping documents or ship-to-ship oil transfers that obscure where cargo came from.

A Treasury Financial Crimes Enforcement Network report released Monday says oil firms linked to Iran conducted roughly $4 billion in transactions in 2024.

And dozens of shipping companies based in Iraq, the United Arab Emirates and Hong Kong — all connected to transporting sanctioned Iranian oil — processed about $707 million through US accounts in 2024.

Along with a bombing campaign in Iran, the Trump administration has turned toward an economic-focused effort aimed at choking Tehran into submission, through sanctions and the threat of secondary sanctions on Iran's allies.

In April, Treasury sent a letter to financial institutions in China, Hong Kong, and others threatening to levy secondary sanctions for doing business with Iran and accusing those countries of allowing Iranian illicit activities to flow through their financial institutions.

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World

Russia Says Downed 419 Ukrainian Drones

A woman walks past Russian security personnel standing guard in central Moscow, Russia June 29, 2026. (Reuters)
A woman walks past Russian security personnel standing guard in central Moscow, Russia June 29, 2026. (Reuters)
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Russia Says Downed 419 Ukrainian Drones

A woman walks past Russian security personnel standing guard in central Moscow, Russia June 29, 2026. (Reuters)
A woman walks past Russian security personnel standing guard in central Moscow, Russia June 29, 2026. (Reuters)

Russia shot down 419 Ukrainian drones across the country overnight, the defense ministry said Tuesday.

Kyiv has stepped up its long-range drone strike campaign against Russia in recent months, particularly against energy infrastructure to target a vital source of the Kremlin's revenue to fund its war effort, now in its fifth year.

Air defense systems "intercepted and destroyed 419 Ukrainian fixed-wing unmanned aerial vehicles" around the country, the defense ministry posted on the state-run Max platform.

It did not say if there were any deaths or injuries.

Moscow's Mayor Sergey Sobyanin said earlier that air defense forces had shot down 50 "enemy drones" overnight headed for the capital.

The swarm came days after Russia shot down 660 Ukrainian drones between Thursday and Friday, one of the highest figures since the start of the conflict.

A Ukrainian attack also caused a fire last week at a refinery in the southeast of Moscow.

World

Two Revolutionary Guards Killed in Attack by Unknown Gunmen in Western Iran

A handout photo made available by Sepahnews shows members of the Iranian Revolutionary Guard Corps (IRGC) during a military drill around the capital city of Tehran, Iran, 12 May 2026. (EPA/Handout)
A handout photo made available by Sepahnews shows members of the Iranian Revolutionary Guard Corps (IRGC) during a military drill around the capital city of Tehran, Iran, 12 May 2026. (EPA/Handout)
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Two Revolutionary Guards Killed in Attack by Unknown Gunmen in Western Iran

A handout photo made available by Sepahnews shows members of the Iranian Revolutionary Guard Corps (IRGC) during a military drill around the capital city of Tehran, Iran, 12 May 2026. (EPA/Handout)
A handout photo made available by Sepahnews shows members of the Iranian Revolutionary Guard Corps (IRGC) during a military drill around the capital city of Tehran, Iran, 12 May 2026. (EPA/Handout)

Two members of Iran's Revolutionary Guards were killed and two ‌others wounded ‌in what the ‌Guards ⁠described as a "terrorist" ⁠shooting in the western province of ⁠Kermanshah on ‌Monday ‌evening, state ‌media ‌reported on Tuesday.

The attackers opened fire outside ‌the Guards members' home and ⁠authorities ⁠were investigating to identify those responsible, state media reported.

World

Satellite Data: Over 58,000 Buildings Likely Damaged or Destroyed in Venezuela

Rescue workers search for survivors among the rubble following two earthquakes with magnitudes of 7.2 and 7.5 in Catia La Mar, La Guaira state, Venezuela, 29 June 2026. EPA/Henry Chirinos
Rescue workers search for survivors among the rubble following two earthquakes with magnitudes of 7.2 and 7.5 in Catia La Mar, La Guaira state, Venezuela, 29 June 2026. EPA/Henry Chirinos
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Satellite Data: Over 58,000 Buildings Likely Damaged or Destroyed in Venezuela

Rescue workers search for survivors among the rubble following two earthquakes with magnitudes of 7.2 and 7.5 in Catia La Mar, La Guaira state, Venezuela, 29 June 2026. EPA/Henry Chirinos
Rescue workers search for survivors among the rubble following two earthquakes with magnitudes of 7.2 and 7.5 in Catia La Mar, La Guaira state, Venezuela, 29 June 2026. EPA/Henry Chirinos

The powerful twin earthquakes that struck Venezuela last week damaged or destroyed more than 58,000 buildings, according to a preliminary assessment of satellite data published by US space agency NASA.

Some 1,700 people were killed and thousands remain missing following the quakes of magnitude 7.2 and 7.5 -- the strongest to hit the South American nation in more than a century.

"Approximately 58,870 buildings were likely damaged or destroyed across the affected region" based on satellite radar data gathered on June 25, the day after the earthquakes, according to researchers Corey Scher and Jamon Van Den Hoek of Oregon State University.

The duo were citing data from the European Space Agency's high-resolution radar imagery satellite Sentinel-1, AFP reported.

"This is a preliminary, rapid assessment. It reflects abrupt surface change consistent with damage," the researchers wrote, adding that the figure should only be read as an indicator and was not verified on the ground.

National Assembly President Jorge Rodriguez reported on Monday that 855 buildings have been damaged, including 189 "total collapses."

NASA said that its satellites were "providing critical support, capturing imagery and data to help teams on the ground assess impacts and guide response efforts."