World · Europe · 33 mins ago
US sanctions eight Canadian financial firms over alleged Iran links
The US Treasury announced sanctions against eight Canadian financial firms accused of helping move assets to and from Iran.
The firms are currency exchanges based in Ontario or British Columbia that offer digital-asset services, according to the Treasury.
The story's headline names the EU, but its text says the US imposed the sanctions through its Office of Foreign Assets Control.
One named firm, Diverse Trade Inc., which operates as Million Exchange, is accused of sending hundreds of thousands of dollars to addresses linked to Iran's Islamic Revolutionary Guard Corps or terrorism.
The Treasury also alleges the firm laundered drug proceeds through digital assets and says one of its clients was Canadian former Olympic athlete and alleged drug trafficker Ryan Wedding.
The sanctions target alleged channels for evading restrictions on Iran, and the Treasury says it will keep pursuing such financial networks around the world.
The US Treasury announced sanctions against eight Canadian financial firms accused of helping move assets to and from Iran.
The firms are currency exchanges based in Ontario or British Columbia that offer digital-asset services and money transfers between Iran and Canada.
The Treasury said Diverse Trade Inc, which operates as Million Exchange, sent hundreds of thousands of dollars to addresses linked to Iran’s Islamic Revolutionary Guard Corps or other terrorism-related addresses.
The company is also accused of laundering drug proceeds through digital assets.
The Treasury said it would continue targeting financial channels used by the Iranian regime worldwide.
- Who
- The US Treasury imposed the sanctions on eight Canadian financial firms.
- What
- The firms were accused of facilitating financial transfers linked to Iran and other illicit actors.
- When
- Friday; the article was published on November 7, 2026.
- Where
- The firms are based in Ontario or British Columbia, Canada.
- Why
- The US Treasury said they helped move assets to and from Iran and provided services to actors linked to Tehran.
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- Sanctioned firms
- 8 Canadian financial firms
- Locations
- Ontario and British Columbia
- Named firm
- Diverse Trade Inc, operating as Million Exchange
- Alleged transfers
- Hundreds of thousands of dollars to addresses linked to the IRGC or other terrorism-related addresses
- Publication date
- November 7, 2026
1 source
What people are saying
Canada cannot be a safe haven for illicit financial facilitators that provide sanctions-evasion services to the Iranian regime and its proxies.
hundreds of thousands of dollars to addresses linked to the Islamic Revolutionary Guard Corps or to other terrorism-related addresses
the Iranian regime's financial channels anywhere in the world