The US administration has unveiled its latest additions in regard to ongoing sanctions against Iran...
The Trump administration on Tuesday unveiled one of its broadest sanctions actions yet under its “Economic Fury” campaign, targeting more than 50 companies, individuals, and vessels tied to Iran’s shadow banking and shipping networks as Washington intensifies pressure on Tehran amid the ongoing Strait of Hormuz crisis.
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against Iranian exchange house Amin Exchange and a sprawling network of front companies accused of moving hundreds of millions of dollars on behalf of sanctioned Iranian banks and petrochemical interests. Treasury also designated 19 vessels allegedly involved in transporting Iranian oil, LPG, methanol, naphtha, and petrochemicals to foreign buyers.
“Iran’s shadow banking system facilitates the illicit transfer of funding for terrorist purposes,” Treasury Secretary Scott Bessent said in the announcement. “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.”
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U.S. Targets 19 Tankers, Shadow Banks in Major New Iran Sanctions Crackdown (gCaptain - May 19, 2026)
(The four ships mentioned in the above are currently off or en-route to China according to AIS)