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International Pollution by Chinese Miners Worsens 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, including in the United Arab Emirates, Turkey and Hong Kong.
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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 facilitated 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 oversaw 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.
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