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New Sanctions in the U.S. Aimed at Hitting the Financial Resources of the Islamic State

Jun 20, 2026 June 20, 2026 2 min read 📰 Radio Farda
📋 Key Takeaway

The U.S. Treasury has imposed new sanctions on a Syrian businessman and others for facilitating oil sales from the Islamic State to the Syrian government. This move aims to undermine ISIS's financial resources, which are largely derived from oil sales. The sanctions reflect ongoing geopolitical tensions and efforts to disrupt the funding of terrorist organizations.

🔍 Quick Context Guide
💡 Bottom Line: The U.S. is intensifying sanctions to disrupt ISIS's financial operations linked to the Assad regime.

👥 Key Players

George Haswani TARGET
Syrian businessman
"George Haswani, the Syrian businessman who, along with his engineering and construction company, has been targeted by the new sanctions."
Modallel Khouri TARGET
Representative of Syrian interests
"A person named Modallel Khouri, who is said to represent Syrian interests and its central bank in Russia, is among the newly sanctioned entities."
Union Financial Bank TARGET
Russian bank
"The Russian bank 'Union Financial Bank' are among the newly sanctioned entities."
Bashar al-Assad (بشار اسد) QUOTED
President of Syria
"The Islamic State derives most of its funding from oil fields taken from Bashar al-Assad's government."
U.S. Treasury Department ACTOR
U.S. government agency
"The U.S. Treasury announced that in addition to this Syrian businessman, three other individuals and associated companies have also been sanctioned."
Islamic State (دولت اسلامی) TARGET
Terrorist group
"The Islamic State, which some U.S. officials consider 'the wealthiest terrorist group of its kind.'"

⚡ Actions

U.S. Treasury Department SANCTION George Haswani, Modallel Khouri, Union Financial Bank
"The U.S. Treasury announced that in addition to this Syrian businessman, three other individuals and associated companies, including a Russian bank, have also been sanctioned."
Confidence: 90%
U.S. Treasury Department ANNOUNCE Islamic State
"The aim of these new sanctions is to strike at the financial resources of the Islamic State or ISIS."
Confidence: 90%
George Haswani DENY U.S. Treasury Department
"Mr. Haswani denied all accusations against him when he was placed on the EU sanctions list last spring."
Confidence: 70%

📰 What Happened

U.S. sanctions Syrian businessman and Russian bank for aiding ISIS oil sales to Assad's government.

  • U.S. Treasury Department sanction George Haswani, Modallel Khouri, Union Financial Bank
  • U.S. Treasury Department announce Islamic State
  • George Haswani deny U.S. Treasury Department

💡 Why It Matters

🇮🇷 For Iran: Because Iran supports Assad and may be indirectly affected by sanctions on his financial networks.
🌍 Regional: Because it impacts the dynamics of the Syrian conflict and Iranian influence.
🌐 International: Because it highlights U.S. efforts to combat ISIS financing and Russian involvement.

📚 Background

The U.S. is intensifying sanctions to disrupt ISIS's financial operations linked to the Assad regime.

📝 Key Evidence

"The aim of these new sanctions is to strike at the financial resources of the Islamic State or ISIS."
→ U.S. sanctions targeting ISIS funding.
"According to estimates from U.S. defense officials, the Islamic State had earned $47 million from oil sales until last October."
→ Financial intelligence on ISIS revenue.
📡 Source: INDEPENDENT
📊 Confidence: 80%
Radio Farda is known for its critical stance on the Iranian regime.

On Wednesday, November 25, the U.S. Treasury Department announced that it has placed a Syrian businessman, who acts as an intermediary for oil sales from the Islamic State to the Syrian government, on its sanctions list. Reuters reported that the aim of these new sanctions is to strike at the financial resources of the Islamic State or ISIS. In a statement released on Wednesday, the U.S. Treasury announced that in addition to this Syrian businessman, three other individuals and associated companies, including a Russian bank, have also been sanctioned for aiding and supporting Bashar al-Assad's government in Syria. A person named Modallel Khouri, who is said to represent Syrian interests and its central bank in Russia, and the Russian bank 'Union Financial Bank' are among the newly sanctioned entities. In response to this recent action by the Obama administration, Reuters quoted the Russian Deputy Foreign Minister as saying that Washington should stop these 'geopolitical games.' The Islamic State, which some U.S. officials consider 'the wealthiest terrorist group of its kind,' derives most of its funding from oil fields taken from Bashar al-Assad's government and sells it through various smuggling networks to several major customers, including Assad himself. George Haswani, the Syrian businessman who, along with his engineering and construction company, has been targeted by the new sanctions, is prohibited from trading and engaging with U.S. citizens. According to the U.S. Treasury, he has acted as an intermediary between ISIS and Bashar al-Assad, facilitating the flow of oil to this government. According to Reuters, Mr. Haswani denied all accusations against him when he was placed on the EU sanctions list last spring, claiming that the EU has no evidence against him. Based on estimates from U.S. defense officials, the Islamic State had earned $47 million from oil sales until last October, but in the month following intensified U.S. airstrikes against the group's fuel convoys, this revenue has decreased by 30%.

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Translated from the original and edited for English readers. View original source →

Translation confidence: 85%

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