The U.S. Treasury Department has launched broad sanctions targeting a vast network of companies and individuals accused of helping Iran export oil and petrochemicals illegally. The move, announced Friday, aims to disrupt the financial and logistical support behind Iran’s covert energy trade, especially its crude exports to Asia.
Central to the sanctions is Tehran-based Nasser Zarrin Ghalam and Partners Company, which U.S. officials say manages illegal petroleum deals through numerous front companies. Many of these firms are registered in Hong Kong, the UAE, and Iran. They use fake names and addresses to hide Iran’s involvement and move oil shipments with falsified documents.
Two UAE companies, ACE Petrochem FZE and Moderate General Trading LLC, were sanctioned for their direct ties to the National Iranian Tanker Company (NITC), a blacklisted group that plays a key role in Iran’s crude oil exports. These firms allegedly help transport oil and handle payments via routes designed to avoid detection.
Another major target, Kimia Sadr Pasargad Company in Tehran, is a crucial player in Iran’s petrochemical exports. It now faces sanctions that block dollar transactions and threaten foreign partners with penalties.
Hong Kong is described as a financial hub for much of this network. Shell companies such as PrettyAndy Trading Limited (also known as Ragang Petroleum and Logistics Co.) and Golden Pen General Trading LLC were named for laundering money and hiding cargo sources.
This latest action shows Washington’s resolve to clamp down on Iran’s sanctioned oil flows as Tehran reportedly steps up exports to China and other Asian buyers using intermediaries. With global oil supplies tightening and enforcement challenges growing, the U.S. is focusing on cutting off Iran’s energy workaround networks, especially those operating through major Asian trade centers.
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