United States Sanctions Iranian Financial and Shipping Networks

Today, the United States sanctioned several Iranian regime currency exchange houses, associated personnel, and front companies, as well as 19 vessels that collectively enable Iran’s regime to evade international sanctions and fund its destabilizing activities across the Middle East. As part of the Economic Fury campaign, this action targets the shadow financial system and illicit shipping operations that allow Iran to move billions of dollars annually from oil and petrochemical sales, directly supporting the regime’s military operations and its proxies throughout the region.

These sanctions target Amin Exchange, a major Iranian currency exchange house that operates through a network of front companies in the United Arab Emirates, Turkey, and China, including Hong Kong, to launder money for sanctioned Iranian banks and state-owned enterprises.

By taking steps to dismantle these financial channels, the United States aims to deny the Iranian regime the resources it uses to threaten regional stability, support terrorist organizations, and develop weapons programs.

This action reinforces the United States’ commitment to maximum economic pressure on Iran until the regime ceases its malign activities. The Trump Administration will continue to hold Iran accountable and counter its dangerous and malign behavior. As part of Economic Fury, we will intensify economic pressure on Iran and the international network that sustains its illicit energy trade.

Meanwhile, the U.S. Department of State’s Rewards for Justice (RFJ) program is offering a reward of up to $15 million for information leading to the disruption of the financial mechanisms of Iran’s Islamic Revolutionary Guard Corps and its various branches. More information is available on the RFJ website.

Today’s action is being taken pursuant to E.O. 13902, which targets persons operating in Iran’s financial, petroleum and petrochemical sectors. These designations build on OFAC’s previous actions targeting Iran’s shadow banking mechanisms, including exchange houses, Iranian bank rahbar companies, digital asset exchanges, and facilitators used to evade sanctions. This action is in furtherance of the President’s National Security Presidential Memorandum 2 (NSPM-2), which supports Treasury’s continued campaign of maximum economic pressure against Iran’s shadow banking, money laundering, and sanctions evasion networks. For more information on today’s action, please see the Department of the Treasury’s press release.