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US sanctions Canadian money firms as Trump says Iran talks go well
The US Treasury imposed sanctions on eight money services firms based in Canada, accusing them of facilitating transactions with sanctioned Iranian entities, and blocked US financial institutions from processing transfers involving the Seychelles-registered crypto exchange MEXC Global over at least $16 billion in transactions it linked to Iran, North Korea and Russia. A day earlier, Treasury sanctioned companies and individuals in India and Turkey accused of helping Iran evade oil export and airline restrictions. President Donald Trump said Friday his administration was in talks with Iranian representatives and was "doing very well with Iran," a claim that was not independently verified.
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The eight firms are based in Ontario and British Columbia. The Treasury said the sanctions cut them off from the dollar-based financial system, block any assets they hold in the United States and bar transactions with US persons. Among those designated were Million Exchange, Farah Exchange and Darvish Exchange.
Separately, the Treasury's Financial Crimes Enforcement Network ordered US financial institutions not to process fund transfers involving MEXC Global, which it says has facilitated at least $16 billion in illicit transactions linked to Iran, North Korea and Russia. Treasury Secretary Scott Bessent said Washington would pursue Iran's financial channels anywhere in the world and that Canada could not be a safe haven for sanctions evasion. The moves followed Thursday's sanctions on companies and individuals in India and Turkey.
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