Washington sanctions 50+ Iran-linked banking and shipping networks
Shafaq News- Washington
The US Department of the Treasury imposed new sanctions on Tuesday targeting 12 individuals, 29 entities, and 19 vessels linked to Iran as part of Washington’s expanding “Economic Fury” campaign against Tehran.
Measures target the Iranian currency exchange company Amin Exchange, also known as Ebrahimi and Associates Partnership Company, which US authorities accuse of operating a network of shell companies across multiple jurisdictions to facilitate transactions for Iranian banks.
According to the Treasury Department, Iranian exchange firms process billions of dollars in foreign currency transactions annually, enabling Tehran to bypass sanctions and access the global financial system. US authorities also alleged that shell companies linked to the network handled hundreds of millions of dollars in transactions on behalf of Iranian financial institutions.
Press Release: https://t.co/l6tCUGRO0z
— Treasury Department (@USTreasury) May 19, 2026
Treasury Secretary Scott Bessent accused Iran’s “shadow banking system” of facilitating illicit financial transfers linked to terrorism, warning financial institutions to remain alert to what he described as Tehran’s manipulation of the international financial system.
Washington also blacklisted vessels allegedly involved in transporting Iranian oil and petrochemical products to foreign buyers, including the Barbados-flagged liquefied petroleum gas tanker Great Sail, the Palau-flagged tanker Ocean Wave, and the Panama-flagged chemical and oil tanker Swift Falcon.
The sanctions freeze any US-based assets belonging to the targeted individuals and entities and prohibit American citizens and companies from conducting transactions with them.
Earlier today, Bessent stated that Washington is coordinating with allies to tighten financial restrictions on Tehran during the Group of Seven (G7) meetings that included discussions on Iran and the Strait of Hormuz crisis. He also noted that the United States expects broad European support for tougher sanctions targeting Iranian financial networks and banks linked to the Iranian government.
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