❗️US sanctions eight Canadian firms over alleged Iran-linked financial transactions The US Treasury announced on Friday that it had imposed financial sanctions on eight Canadian money services firms accused of facilitating transactions involving Iranian entities already under US sanctions. The measures effectively cut the companies off from the US dollar-based financial system, freezing any assets they hold in the US and barring US individuals and entities from conducting transactions with them. "Canada cannot be a safe haven for illicit financial facilitators that provide sanctions evasion services to the Iranian regime and its proxies,” said Secretary of the Treasury Scott Bessent. “Treasury will pursue and disrupt the Iranian regime’s financial channels anywhere in the world.” The Treasury named the sanctioned businesses as Diverse Trade Inc, operating as Million Exchange; 1380079 BC Limited; Top PC Technician Inc; NIA Nations Currency Ltd; 2397639 Ontario Ltd, operating as Farah Exchange; CCC Inc; B Galaxy Inc; and Darvish Exchange. The companies are based in Ontario and British Columbia. Separately, the Treasury's Financial Crimes Enforcement Network issued an order barring virtual currency exchange MEXC Global from the US financial system over transactions allegedly linked to sanctions evasion involving Iran, North Korea, and Russia.