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US Treasury Sanctions Iranian LPG Shadow Fleet Network

6/8/2026

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Summary

Story summary

On June 5 2026, the U.S. Treasury sanctioned a network shipping Iranian LPG.
OFAC listed six vessels and entities that moved hundreds of millions of dollars of LPG, which network funneled via United Arab Emirates and China front companies, accounts and Iran’s “shadow fleet”, mislabelled Omani LPG and sold to South and East Asian buyers, Bangladesh.
Treasury Secretary Scott Bessent said the Economic Fury campaign cut off Iran’s shadow fleet and banks.

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Story summary

On June 5 2026, the U.S. Treasury sanctioned a network shipping Iranian LPG.
OFAC listed six vessels and entities that moved hundreds of millions of dollars of LPG, which network funneled via United Arab Emirates and China front companies, accounts and Iran’s “shadow fleet”, mislabelled Omani LPG and sold to South and East Asian buyers, Bangladesh.
Treasury Secretary Scott Bessent said the Economic Fury campaign cut off Iran’s shadow fleet and banks.