The United States announced sanctions on three Iranian foreign exchange companies—Opal Exchange, Radin Exchange, and Tahayori Guarantee Society—on May 2, 2026. According to the U.S. Department of the Treasury, these firms allegedly helped convert proceeds from Iranian oil sales into currencies that could be more easily used by Iran’s military forces. The sanctions include asset freezes within the United States and prohibit American individuals and businesses from conducting transactions with the targeted entities.

U.S. Treasury Secretary Scott Besant stated that the move reflects Washington’s commitment to disrupting Iran’s financial networks. He emphasized that the United States would continue to target the Iranian government’s ability to raise, transfer, and repatriate funds. The announcement underscores ongoing U.S. efforts to limit Iran’s access to international financial systems.

The sanctions are expected to further strain Iran’s financial operations and restrict its military funding channels, though the broader economic impact remains to be seen.