Washington just went after Iran’s money in Canada

Which it says moved money for sanctioned Iranian entities.

They’re now cut off from the dollar system.

“Canada cannot be a safe haven,” said Treasury Secretary Scott Bessent.

The same day, FinCEN cut off crypto exchange MEXC Global from US banks.

It says MEXC handled at least $ 16bn of illicit transactions linked to Iran, North Korea and Russia.

It’s the money side of the blockade.

Iran’s oil exports are already close to zero under the US Navy.

Now Washington is closing the channels that move what’s left of its cash.

The timing is awkward for Ottawa.

Carney is negotiating a trade deal with Trump and the sanctions land in Canada’s own exchange shops.

???????? Washington just went after Iran’s money in ???????? Canada. The US Treasury sanctioned 8 money services firms in Ontario and British Columbia, which it says moved money for sanctioned Iranian entities. They’re now cut off from the dollar system. “Canada cannot be a safe haven,” said Treasury Secretary Scott Bessent. The same day, FinCEN cut off crypto exchange MEXC Global from US banks. It says MEXC handled at least $ 16bn of illicit transactions linked to Iran, North Korea and Russia. It’s the money side of the blockade. Iran’s oil exports are already close to zero under the US Navy. Now Washington is closing the channels that move what’s left of its cash. The timing is awkward for Ottawa. Carney is negotiating a trade deal with Trump and the sanctions land in Canada’s own exchange shops.

— Jack Prandelli (@jackprandelli)November 6, 2026

News from around the world