E-Paper
Sign In
US imposes fresh sanctions on Iranian exchange house, shadow fleet vessels
The Treasury Department said Iranian exchange houses move billions of dollars annually, helping Tehran bypass sanctions and access the global financial system.
- PUBLISHED: Tue 19 May 2026, 9:00 PM
[Editor's Note: Follow the Khaleej Times live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.]
The Trump administration on Tuesday imposed sanctions on an Iranian foreign currency exchange house and what it said were front companies overseeing transactions on behalf of Iranian banks in the US, maintaining pressure on Tehran.
Recommended For You
The move came after Iran said its latest peace proposal to the United States over the US-Israeli-led war that started February 28 involves ending hostilities on all fronts, including Lebanon; the exit of US forces from areas close to Iran; and reparations for destruction caused by the conflict.
The Treasury Department imposed sanctions on the Iran-based Amin Exchange, also known as Ebrahimi and Associates Partnership Company, which it said has a widespread network of front companies spanning multiple jurisdictions.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
The US also blocked 19 vessels it said were involved in shipping Iranian petroleum and petrochemicals to foreign customers.
The Treasury Department said Iranian exchange houses facilitate billions of dollars in foreign currency transactions a year, enabling the government to evade sanctions and access the international financial system. It said the front companies oversee hundreds of millions of dollars in transactions on behalf of Iranian banks.
"Iran’s shadow banking system facilitates the illicit transfer of funding for terrorist purposes," Treasury Secretary Scott Bessent said in a release. "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."
The sanctions block US assets of those designated and prevent Americans from doing business with them.