The US Treasury Department sanctioned over 50 companies, vessels, and individuals tied to Iran’s shadow banking and oil networks this week, escalating the Trump administration's Economic Fury campaign. The Office of Foreign Assets Control (OFAC) designated Iran-based Amin Exchange, a prominent foreign currency exchange house, along with its CEO Samad Nemati and owner Yousef Ebrahimi, for moving hundreds of millions of dollars on behalf of sanctioned Iranian banks. The firm operates front companies across the UAE, Türkiye, Hong Kong, and China. Additionally, OFAC blocked 19 oil and petrochemical tankers that have transported millions of barrels of Iranian oil and petrochemicals since 2023. Treasury Secretary Scott Bessent warned global banks to monitor Iranian fund flows, stating that Economic Fury has frozen nearly $500 million in regime-linked cryptocurrency, including a $344 million Tether (USDT) freeze on the Tron blockchain. Treasury has also pressured Binance over Iran-linked flows. OFAC noted that Iran-based exchange houses move billions in foreign currency annually, enabling Tehran to convert oil revenue and channel funds to its armed forces. Further secondary sanctions may target foreign banks, refineries, and airlines that facilitate Iranian transactions.

Key facts

• OFAC designated Iran-based Amin Exchange for moving hundreds of millions for sanctioned banks.
• 19 oil and petrochemical tankers blocked; owners in Hong Kong, Marshall Islands, Liberia named.
• Nearly $500 million in regime-linked crypto frozen, including $344M USDT on Tron.
• Treasury warned global banks and signaled further secondary sanctions on facilitators.
• Iran uses exchange houses to convert oil revenue and fund armed forces.

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