WASHINGTON - The Treasury Department is directing U.S. banks and financial institutions to stay alert for suspected Iranian money-laundering operations that leverage their systems to traffic embargoed oil through shell companies and cryptocurrency channels.

This step enlists the worldwide financial network in efforts to dismantle Iran's sanctions circumvention apparatus, as U.S.-Iran talks stall on resolving their conflict amid a fragile ceasefire.

President Donald Trump declared on Monday that the Iran ceasefire hangs by a thread, following his dismissal of Tehran's newest plan to halt the war.

The Trump administration urges banks to spotlight clients potentially cleaning money for Iran's Revolutionary Guard Corps - such as recently established firms shifting massive sums, businesses funneling payments via layered middlemen, or deals tied to Iranian crypto entities, plus related red flags.

To scrutinize Iranian oil trade, banks must check for oil masquerading as 'Malaysian blend' to conceal origins, bogus or absent shipping paperwork, and ship-to-ship transfers hiding cargo sources.

A Monday report from the Treasury's Financial Crimes Enforcement Network reveals that Iran-linked oil enterprises executed around $4 billion in deals during 2024.

Dozens of shipping outfits in Iraq, the United Arab Emirates, and Hong Kong - tied to hauling banned Iranian oil - routed approximately $707 million via U.S. accounts that same year.

Beside airstrikes inside Iran, the Trump team is ramping up economic warfare to squeeze Tehran into compliance, wielding sanctions and secondary sanction threats against its partners.

In April, Treasury issued warnings to banks in China, Hong Kong, the UAE, and Oman, threatening penalties for Iran dealings and charging them with enabling Tehran's illicit financial flows.