U.S. Treasury Sanctions 50+ Firms, 19 Tankers Linked to Iran

On Thursday the U.S. Treasury’s Office of Foreign Assets Control announced sanctions on more than 50 companies, 19 oil and petrochemical tankers and several individuals tied to Iran’s shadow banking and oil networks, designating Tehran-based Amin Exchange and its chief executive Samad Nemati.

OFAC identified the firm as Ebrahimi and Associates Partnership Company, operating as Amin Exchange, and said it moved hundreds of millions of dollars on behalf of Iranian banks already under U.S. sanctions. The Treasury named CEO Samad Nemati, identified as a former Islamic Revolutionary Guard Corps officer, and owner Yousef Ebrahimi. Eight related entities that operate front companies in the United Arab Emirates, Turkey, Hong Kong and China were added to the Specially Designated Nationals list.

The designation covered 19 tankers that U.S. officials say transported millions of barrels of Iranian crude oil, naphtha, methanol and liquefied petroleum gas since 2023. OFAC targeted vessel owners based in Hong Kong, the Marshall Islands and Liberia. Counterparties cited in the action included the National Iranian Oil Company and Triliance Petrochemical, both already under U.S. sanctions.

Treasury official Scott Bessent warned global banks to monitor how Tehran moves funds through the international financial system and said, “Iran’s shadow banking system facilitates the illicit transfer of funding for terrorist purposes.” He added that the Economic Fury campaign has frozen nearly $500 million in regime-linked cryptocurrency assets.

The latest designations build on earlier Treasury measures, including a $344 million freeze of Tether tokens on the Tron blockchain and stepped-up pressure on major cryptocurrency exchanges over Iran-related transactions. U.S. officials say exchange houses inside Iran convert billions of dollars in foreign currency each year, allowing oil revenue to be funneled to the country’s armed forces.

By adding Amin Exchange and affiliated entities to the SDN list, the Treasury said it aims to block those firms from parts of the international financial system and to warn foreign financial institutions that facilitate such flows they could face secondary sanctions. The department indicated further designations could target banks, refineries and airlines that process Iranian transactions.

The Office of Foreign Assets Control enforces U.S. economic and trade sanctions by identifying people and entities that support targeted regimes and restricting their access to U.S. markets and counterparties. The Treasury said the designations are intended to reduce Iran’s ability to monetize energy exports and to limit alternative channels used to move funds.