WASHINGTON

A seven-nation group combatting the international financing of terrorists on Wednesday designated 25 targets affiliated with Iran over alleged support for terrorism.

In a press release, the U.S. Treasury Department said Terrorist Financing Targeting Center (TFTC)'s joint designation "is focused on entities supporting" Iran’s Islamic Revolutionary Guard Corps (IRGC) and Hezbollah.

Formed in May 2017, the TFTC is composed of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates plus the U.S.

"It is a bold effort to expand and strengthen the cooperation amongst seven countries ... to counter the financing of terrorism," said Secretary of the Treasury Steven Mnuchin.

He said the action demonstrated the "unified position" of the Gulf nations and the U.S. that Tehran will not be allowed to step up "its malign activity in the region."

Of designated targets are 21 individuals, banks and corporations comprising a vast network of businesses providing financial support to the Basij Resistance Force (Basij).

Four were Hezbollah-linked individuals, who the statement said "lead and coordinate the group’s operational, intelligence, and financial activities in Iraq."

In April, Washington listed Iran's Islamic Revolutionary Guard Corps (IRGC) as a terror organization to increase pressure on Iran.