The U.S. Department of the Treasury announced on Friday the imposition of sanctions against eight financial organizations in Canada. These organizations are accused of facilitating the movement of assets to and from Iran for companies and 'other illicit entities' connected with Iran.
The entities subject to measures by the Office of Foreign Assets Control (OFAC) of the Treasury Department are exchange bureaus located in Ontario or British Columbia. They provide services for exchanging digital assets and the ability to transfer money from Iran to Canada and vice versa.
Among the companies placed on Washington's 'blacklist' is Diverse Trade Inc, which conducts commercial activities under the name Million Exchange. According to the Treasury Department, this firm allowed sending 'hundreds of thousands of dollars to addresses associated with the Islamic Revolutionary Guard Corps or other terrorism-related addresses.'
Furthermore, the company is accused of laundering proceeds from drug trafficking. This was done by using cash obtained from drug sales to purchase digital goods, which were then returned to the dealers.
Clients of this company include Canadian drug trafficker and former Olympic athlete Ryan Wedding. The U.S. Department of the Treasury emphasized its commitment to combating financial channels of the 'Iranian regime everywhere in the world' and criticized the fact that the neighboring country serves as a 'safe haven' for such structures.
The statement noted: 'Canada cannot be a safe haven for financial intermediaries engaged in illegal activities and providing services to circumvent sanctions against the Iranian regime and its representatives.'
