The Treasury Department announced Tuesday that the Office of Foreign Assets Control sanctioned more than 50 companies, individuals, and vessels connected to Iran’s shadow banking and petroleum shipping networks as part of the Trump administration’s “Economic Fury” campaign.
Treasury Secretary Scott Bessent said Iran’s shadow banking system helps fund terrorist activity and allows Tehran to evade sanctions while generating revenue for the regime.
The sanctions target Iranian exchange house Amin Exchange and its network of front companies accused of helping sanctioned Iranian banks move hundreds of millions of dollars through the international financial system. Officials said the network facilitated transactions tied to Iranian oil and petrochemical sales.
The sanctions also block 19 vessels accused of transporting Iranian oil, liquified petroleum gas, petrochemicals, and related products to foreign buyers. Treasury said the shipments generated hundreds of millions of dollars for Iran.
The State Department’s Rewards for Justice program separately announced a reward of up to $15 million for information disrupting financial networks tied to Iran’s Islamic Revolutionary Guard Corps.
Read the Treasury Department Press Release
