US Sanctions Target Iran’s Shadow Banking Network and Fleet

On 19 May 2026, the U.S. Treasury’s Office of Foreign Assets Control designated Iran-based Amin Exchange (Ebrahimi and Associates Partnership Company) as a Specially Designated National. The order also targeted front companies in the UAE, Turkey, Hong Kong and China and blocked 19 vessels linked to Iranian oil, LPG and petrochemical shipments.

ReutersThe Straits TimesU.S. Targets 19 Tankers, Shadow Banks in Major New Iran Sanctions CrackdownWIONUS imposes new sanctions against Iran's shadow fleet and exchange network - ReutersThe Jerusalem Post

The sanctions come as the U.S.–Israel war that began on 28 Feb 2024 continues and Iran has offered a peace proposal calling for a cease-fire, U.S. troop pull-out near Iran and reparations. Washington has rejected the offer and is intensifying its “Economic Fury” campaign to squeeze Tehran’s finances.

The Hill

The target, Amin Exchange, operates through front firms such as Ningbo Jiarui Trading (China), Starshine Petrochemical (Hong Kong) and Alieen Goods Wholesalers (UAE). Owners Yousef and Mahmoud Ebrahimi, Samad Nemati and Ali Hazrati Chakherlo are named. The exchange handles billions of dollars annually, its front firms move hundreds of millions, and 19 vessels—including *Great Sail*, *Ocean Wave* and *Swift Falcon*—were blocked.

US imposes new sanctions against Iran's shadow fleet and exchange network - Reuters

Secretary Bessent said the sanctions aim to dismantle Iran’s shadow banking and fleet that fund terrorism. Piggot noted the measures target financial channels sustaining Tehran’s military and proxies. Trump warned that “the clock is ticking” and said the U.S. would pause planned strikes pending negotiations that exclude nuclear weapons for Iran.

The Hill

• “Iran’s shadow banking system facilitates the illicit transfer of funding for terrorist purposes,” — Scott Bessent, U.S. Treasury Secretary

The Straits Times

• “As Treasury systematically dismantles Tehran’s shadow banking system and shadow fleet under Economic Fury, financial institutions must be alert to how the regime manipulates the international financial system to wreak havoc.” — Scott Bessent, U.S. Treasury Secretary

The Hill

• “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,” — Tommy Piggot, State Department spokesperson

The Hill

• “This Deal will include, importantly, NO NUCLEAR WEAPONS FOR IRAN!” — Donald Trump, President of the United States

The Hill

By cutting a major conduit for oil-derived revenue, the sanctions pressure Tehran to alter its war posture and negotiate a settlement. Sources differ on the exact number of front firms—some list five in China and three in the UAE, others cite eight across four jurisdictions—and on the operation’s name (“Economic Fury” vs. “Operation Economic Rage”). Washington signaled possible further sanctions and expects negotiations, led by Qatar, Saudi Arabia and the UAE, to address nuclear constraints and troop withdrawals.

The Hill