The administration of US President Donald Trump has imposed sanctions against an Iranian exchange house and "shadow fleet" vessels. This was reported by UNN with reference to Reuters.
Details
The US Department of the Treasury has imposed sanctions on the Iranian company Amin Exchange, also known as Ebrahimi and Associates Partnership Company. According to the department, it has an extensive network of front companies in various jurisdictions, including the United Arab Emirates, Turkey, and Hong Kong.
The US also blocked 19 vessels which, according to Washington, were involved in the delivery of Iranian oil and petrochemical products to foreign customers.
The US Treasury Department stated that Iranian exchange houses facilitate billions of dollars in foreign exchange transactions annually, allowing the government to bypass sanctions and gain access to the international financial system. According to the department, front companies control transactions worth hundreds of millions of dollars on behalf of Iranian banks.
"Iran’s shadow banking system facilitates the illicit transfer of funds for terrorist purposes. As Treasury systematically dismantles Tehran’s shadow banking system and shadow fleet as part of Operation Economic Rage, financial institutions must be vigilant about how the regime manipulates the international financial system to cause chaos,"
The Office of Foreign Assets Control also listed the following companies, which it said are front firms providing assistance to Amin Exchange:
- Chinese company
Ningbo Jiarui Trading Co., Ltd.;
- Hong Kong
company Starshine Petrochemical Corporation Limited;
- Hong Kong
company Vigorous Trading Limited;
- Alieen
Goods Wholesalers LLC from the UAE;
- Bold
Trading FZE from the UAE;
- Materium Group FZE
(UAE);
- Bestfortuna
Company Limited (Hong Kong);
- Cheng Pan Co.,
Limited (Hong Kong).
As a reminder
US President Donald Trump warned Iran that "time is running out" as negotiations to end the war have reached a stalemate.