U.S. sanctions Iran-linked firms under ‘Economic Fury’ campaign
The United States has imposed sanctions on more than 50 companies, individuals, and vessels linked to Iran’s financial, petroleum, and petrochemical sectors, Qazinform News Agency correspondent reports.
The U.S. Department of the Treasury’s Office of Foreign Assets Control said the measures were taken as part of its Economic Fury campaign and target networks allegedly involved in moving revenue for sanctioned Iranian banks and energy exporters.
According to the Treasury, the new designations include Iran-based Ebrahimi and Associates Partnership Company, commonly known as Amin Exchange, along with several people connected to the exchange house. OFAC said the company had handled hundreds of millions of dollars in foreign transactions for sanctioned Iranian entities.
The sanctions also cover front companies based in China, Hong Kong, the United Arab Emirates, and Türkiye, which Washington says were used to support cross-border payments connected to Iran’s petroleum, petrochemical, metals, manufacturing, and automobile sectors.
In a separate part of the action, OFAC blocked 19 vessels that it says were involved in carrying Iranian oil, petroleum products, and petrochemicals to foreign customers. The tankers include ships flagged in Panama, Palau, Hong Kong, Cameroon, Vanuatu, Barbados, and other jurisdictions.
The Treasury said the vessels had transported Iranian oil, liquefied petroleum gas, naphtha, methanol, and other products since 2023, 2024, 2025 or 2026, depending on the vessel.
U.S. Treasury Secretary Scott Bessent said Iran’s shadow banking system was being used to move funds for illicit purposes and urged financial institutions to remain alert to sanctions evasion risks.
Under the sanctions, property and interests in property of the designated persons that are in the United States or controlled by U.S. persons are blocked. The restrictions also apply to entities owned 50% or more by one or more blocked persons.
OFAC said U.S. sanctions generally prohibit transactions involving blocked persons unless authorized or exempt. Non-U.S. persons may also face sanctions risks for certain dealings with designated individuals or entities.
Earlier, Qazinform reported that U.S. President Donald Trump announced that a previously scheduled military attack on Iran would not proceed as planned.
