U.S. Sanctions Iranian Exchange Network and 19 Vessels

The United States imposed new financial sanctions on Tuesday targeting an Iranian currency exchange house and a network of companies and vessels that officials said are used to evade international restrictions and fund destabilizing activities. The action freezes U.S. assets of the designated entities and prohibits Americans from conducting business with them.

The U.S. Treasury Department sanctioned the Iran-based Amin Exchange, also known as Ebrahimi and Associates Partnership Company. Officials described it as a key foreign currency exchange house with a widespread network of front companies spanning multiple jurisdictions, including the United Arab Emirates, Turkey, and Hong Kong. The Treasury said these exchange houses facilitate billions of dollars in transactions annually, enabling the Iranian government to access the international financial system.

Concurrently, the Treasury’s Office of Foreign Assets Control designated several companies it identified as front companies assisting Amin Exchange. The listed firms are based in China, Hong Kong, and the UAE. In a separate action, the U.S. blocked 19 vessels it said were involved in shipping Iranian petroleum and...