Exclusive investigations by Iran International show that despite a new U.S. campaign to economically isolate the Islamic Republic, a large part of the regime’s shadow banking network remains untouched. These investigations have identified 15 banks in China and the United Arab Emirates that the Islamic Republic uses to access the global financial system, and 13 banks from this group have, to date, been targeted by no U.S. executive or sanctions action.

Miad Maleki, former head of the Office of Targeting for Sanctions at the U.S. Treasury Department, discussed the implications of these findings and the role of this network in circumventing sanctions in an interview with Iran International.