US Treasury Hits Over 50 Firms and Vessels in Iran Shadow Banking Crackdown

The US Treasury sanctioned more than 50 companies, vessels, and individuals tied to Iran’s shadow banking and oil networks this week, escalating the Trump administration’s Economic Fury campaign against Tehran’s financial workarounds.

The Office of Foreign Assets Control hit Iranian exchange house Amin Exchange and blocked 19 oil and petrochemical tankers, while Secretary Scott Bessent warned global banks to monitor how Tehran continues moving funds through the international financial system.

Amin Exchange Anchors the Sanctions Sweep

OFAC designated Iran-based Ebrahimi and Associates Partnership Company, known as Amin Exchange, for moving hundreds of millions of dollars on behalf of sanctioned Iranian banks.

CEO Samad Nemati, a former IRGC officer, and owner Yousef Ebrahimi were also designated.

The firm runs front companies across the UAE, Türkiye, Hong Kong, and China, with eight entities added to the Specially Designated Nationals list.

Counterparties named in the action included the National Iranian Oil Company and Triliance Petrochemical, both already under US sanctions.

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Crypto and Shadow Fleet Under Pressure

The 19 tankers blocked by OFAC have transported millions of barrels of Iranian oil, naphtha, methanol, and liquefied petroleum gas since 2023.

Owners based in Hong Kong, the Marshall Islands, and Liberia were also designated.

Bessent said Economic Fury has frozen nearly $500 million in regime-linked cryptocurrency, building on earlier actions including a $344 million Tether (USDT) freeze on the Tron blockchain.

Treasury has also pressured Binance over Iran-linked flows.

“Iran’s shadow banking system facilitates the illicit transfer of funding for terrorist purposes,” Bessent stated.

Iran-based exchange houses move billions in foreign currency each year, OFAC said, allowing Tehran to convert oil revenue and channel funds to its armed forces.

Crypto has become a lifeline as traditional oil revenue collapses, and Treasury signaled more secondary sanctions could follow against foreign banks, refineries, and airlines that help process Iranian flows.