The U.S. Department of the Treasury announced Tuesday that it had identified 37 companies responsible for funneling billions of dollars to Iran’s leadership, thus circumventing U.S. and international sanctions.

“The Execution of Imam Khomeini’s Order (EIKO), through two main subsidiaries, oversees a labyrinth of 37 ostensibly private businesses, many of which are front companies,” Treasury explained in a press release.

“The purpose of this network is to generate and control massive, off-the-books investments, shielded from the view of the Iranian people and international regulators.”

U.S. Treasury Goes After Assets of Iranian Leadership

Iranian President Mahmoud Ahmadinejad. (Getty Images)

“EIKO and its subsidiaries — one that manages and controls EIKO’s international front companies, and another that manages billions of dollars in investments — work on behalf of the Iranian Government and operate in various sectors of the Iranian economy and around the world, generating billions of dollars in profits for the Iranian regime each year,” the statement adds.

Treasury said the 37 companies are subject to international sanctions and all business will be blocked from the Government of Iran. The announcement comes on the heels of the Obama administration announcing that it has started targeting companies that use the rial (Iranian currency).

“Even as economic conditions in Iran deteriorate, senior Iranian leaders profit from a shadowy network of off-the-books front companies,” said Under Secretary for Terrorism and Financial Intelligence David S. Cohen.

U.S. Treasury Goes After Assets of Iranian Leadership

Mahmoud Ahmadinejad and his inferior rocket. (Getty Images)

“While the Iranian government’s leadership works to hide billions of dollars in corporate profits earned at the expense of the Iranian people, Treasury will continue exposing and acting against the regime’s attempts to evade our sanctions and escape international isolation,” he added.

Treasury estimates EIKO channeled “tens of billions” into the Iranian government by exploiting “favorable loan rates from Iranian banks and the sale and management of real estate holdings, including selling property donated to EIKO.”

EIKO, the report continues, was also officially tasked with helping the Iranian government skirt U.S. and international sanctions.

“Because of this unique mission, EIKO has received all of the funding it needs to facilitate transactions through its access to the Iranian leadership,” Treasury notes.

Here’s a chart detailing the EIKO network:

And here’s Treasury’s full list of the companies involved:

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