The Trump administration is targeting foreign currency exchange houses that it says help the Iranian military access revenues from oil sales.
"Because Iran primarily settles its oil sales in Chinese yuan, these exchange houses play a critical role in converting oil revenues into currencies that are more readily useable by the Iranian military and its partners and proxies," the Treasury Department said in a statement Friday.
Treasury Secretary Scott Bessent said the action was taken as part of the "Economic Fury" campaign.
"Today’s designations further disrupt the Iranian regime’s mechanisms for receiving payments for oil and other commodities, thereby increasing costs and reducing revenue for the regime’s destabilizing activities, and exposing individuals and the methods the Iranian regime uses to bypass sanctions and abuse the international financial system," Bessent said in a statement.
The move follows actions by the Treasury Department earlier this week to target entities in Iran's shadow banking network that it says help the country evade sanctions.
-ABC News' Chris Boccia