US Treasury Hits Over 50 Firms and Vessels in Iran Shadow Banking Crackdown
(*50*)The US Treasury sanctioned greater than 50 firms, vessels, and people tied to Iran’s shadow banking and oil networks this week, escalating the Trump administration’s Economic Fury marketing campaign towards Tehran’s monetary workarounds.
The Office of Foreign Assets Control hit Iranian trade home Amin Exchange and blocked 19 oil and petrochemical tankers, whereas Secretary Scott Bessent warned international banks to watch how Tehran continues transferring funds by means of the worldwide monetary system.
Amin Exchange Anchors the Sanctions Sweep
OFAC designated Iran-based Ebrahimi and Associates Partnership Company, often known as Amin Exchange, for transferring a whole lot of thousands and thousands of {dollars} on behalf of sanctioned Iranian banks.
CEO Samad Nemati, a former IRGC officer, and proprietor Yousef Ebrahimi have been additionally designated.
The agency runs entrance firms throughout the UAE, Türkiye, Hong Kong, and China, with eight entities added to the Specially Designated Nationals checklist.
Counterparties named in the motion included the National Iranian Oil Company and Triliance Petrochemical, each already below US sanctions.
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Crypto and Shadow Fleet Under Pressure
The 19 tankers blocked by OFAC have transported thousands and thousands of barrels of Iranian oil, naphtha, methanol, and liquefied petroleum fuel since 2023.
Owners primarily based in Hong Kong, the Marshall Islands, and Liberia have been additionally designated.
Bessent mentioned Economic Fury has frozen almost $500 million in regime-linked cryptocurrency, constructing on earlier actions together with a $344 million Tether (USDT) freeze on the Tron blockchain.
Treasury has additionally pressured Binance over Iran-linked flows.
“Iran’s shadow banking system facilitates the illicit switch of funding for terrorist functions,” Bessent stated.
Iran-based trade homes transfer billions in overseas foreign money annually, OFAC mentioned, permitting Tehran to transform oil revenue and channel funds to its armed forces.
Crypto has become a lifeline as conventional oil income collapses, and Treasury signaled extra secondary sanctions may comply with towards overseas banks, refineries, and airways that assist course of Iranian flows.
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