US Treasury Targets Iran-Backed Militias in Iraq with 'Economic Fury' Sanctions

The United States continues its aggressive stance against Iranian influence in Iraq, with the Treasury Department launching "Economic Fury" against key militia commanders. These groups, already designated as terrorist organizations by the US, are accused of orchestrating attacks against American personnel and interests within Iraq, while simultaneously draining the nation's resources to fund their operations and destabilize its governance.

This latest action underscores a broader economic and security strategy targeting Iran, which began on February 28. The Treasury's Office of Foreign Assets Control (OFAC) has specifically named individuals linked to prominent militias such as Kata'ib Hezbollah, Kata'ib Sayyid Al-Shuhada, Harakat Al-Nujaba, and Asa'ib Ahl Al-Haqq. The report highlights the impunity with which these groups operate, their involvement in significant kidnappings of foreign nationals, and their role in deadly attacks.

The US Treasury Secretary, Scott Bessent, issued a stern warning, stating that the US will not tolerate threats to American lives or interests from these Iran-backed militias and that enablers of their violence will face accountability. This move signals a continued commitment by the US to counter Iranian proxy activities in the region, aiming to disrupt their operational capabilities and financial networks.

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We will not allow Iraq’s terrorist militias, backed by Iran, to threaten American lives or interests. Those who enable these militias’ violence will be held accountable.