The United States continues to disrupt Iran’s efforts to evade U.S. sanctions and fund its destabilizing activities.
Most recently, the Treasury Department designated a network of individuals, entities, and vessels responsible for shipping hundreds of millions of dollars’ worth of Iranian liquid petroleum gas, disguised as Omani LPG, to South and East Asia.
The network used front companies in the United Arab Emirates and China, foreign bank accounts, and Iran’s shadow fleet to move millions of barrels of Iranian LPG while concealing its Iranian origin and evading U.S. sanctions.
Treasury’s Office of Foreign Assets Control also took action against Iranian exchange house Mehrdad Geramian Nik and Partners Company and its leadership, who have moved hundreds of millions of dollars of foreign currency on behalf of sanctioned Iranian banks.
The Treasury Department has moved to dismantle Iran’s network of brokers, including against Radin Exchange, Arz Iran Exchange, Opal Exchange, and Amin Exchange. The most recent designations further restrict the Iranian regime’s access to revenue it uses to develop weapons, support terrorist proxies, and enrich regime insiders abroad at the expense of the Iranian people.
The Treasury Department is maintaining maximum pressure on Iran by targeting its ability to generate, move, and repatriate funds. The U.S. has disrupted tens of billions of dollars’ worth of revenue from being otherwise accessible to the Iranian regime and its proxies. This includes actions that have led to the freezing of nearly half a billion dollars in regime-linked cryptocurrency.
In addition, the Treasury Department has cracked down on Tehran’s global shadow banking networks; designated networks supplying weapons and other military components to Iran; sanctioned a corrupt Iraqi official who has facilitated the sale of oil along with Iran-backed militias operating in Iraq; taken numerous actions against Iran’s terrorist proxies; and targeted shadow fleet vessels, companies, and other entities that sustain Iran’s illicit oil industry.
Through the blockade, the United States is directly targeting the regime’s primary revenue stream. Any person or vessel facilitating the illicit trade of oil or other commodities, through covert trade or financial channels, risks exposure to U.S. sanctions.
Treasury will continue to target both traditional sanctions evasion schemes and the exploitation of digital assets while continuing to freeze funds stolen from the Iranian people. The U.S. is also prepared to take action against any foreign company supporting illicit Iranian commerce, including airlines and may impose secondary sanctions on foreign financial institutions that facilitate Iran’s activities.
Recently, the Treasury Department designated an Iranian entity that is trying to extort commercial vessels for passage through the Strait of Hormuz. Treasury also continues to target Iran’s military exports that generates revenue to support the regime’s aggression in the region.
The United States will continue to take steps to hold accountable anyone who facilitates Iran’s sanctions evasion. The U.S. calls on the international community to join in enforcing these measures and preventing Iran from accessing resources that fuel terrorism, weapons proliferation, and instability across the region.