US Sanctions Eight Canadian Entities Over Iran Transactions
The US imposed sanctions on eight Canadian entities for allegedly facilitating international transactions involving Iran. The Treasury Department announced these penalties on Friday, claiming that the entities assisted in exchanging Iranian rials and other currencies for digital assets. Some of these entities reportedly collaborated with Ryan Wedding, a former Olympian linked to a major cocaine network. This action is part of a broader initiative called Operation Economic Outcast aimed at isolating Iran's economy. The US coordinated with Canada's financial intelligence unit, Fintrac, which has revoked the registrations of 161 money services businesses in 2026, surpassing the total from the previous three years. The sanctions reflect ongoing tensions between the US and Canada regarding financial oversight and compliance with international standards.
Published 1 day ago • 07 Nov 2026, 03:48 AM IST