WANA (Jun 10) – The U.S. Department of the Treasury announced sanctions on a banking network that had been transferring billions of dollars in oil and petrochemical revenues to Iran, during the interval between the fifth and sixth rounds of negotiations.
From the start of indirect talks to the end of the fifth round—just a span of 40 days—the U.S. imposed nine new rounds of sanctions on Iran. Some of these sanctions were enacted exactly one day before or after the negotiations. For example, sanctions on Iran’s construction sector were imposed two days prior to the fifth round, and another package targeting an Iranian entity and two individuals in the industrial sector was announced one day after the fourth round.
Following the fifth round, reports surfaced suggesting a freeze on new sanctions. The Wall Street Journal reported that, based on a directive from the White House, “all new sanction actions” against Iran had been halted.

Iranian negotiating team in U.S. talks. Social media/ WANA News Agency

However, just five days after that claim—and shortly before the sixth round—37 new sanctions were imposed on Iran. According to the Iranian Foreign Ministry, these sanctions were aimed at disrupting a covert banking network that had been helping Iran evade restrictions.
The U.S. Treasury Department stated that this network enabled Iran to access billions of dollars in oil sale revenues. Iran’s major oil and petrochemical exporters allegedly used this system to bypass U.S. sanctions and transfer export-related funds. Washington has accused the network of engaging in money laundering activities.
These sanctions came despite Iran’s Expediency Council recently approving the Palermo Convention, one of the key requirements under international anti-money laundering and counter-terrorism financing standards.