US Treasury Sanctions Network Facilitating Iranian LPG Shipments and Exchange House

The U.S. Treasury's OFAC has sanctioned a network involved in illicitly shipping Iranian liquid petroleum gas (LPG) to Asian markets, disguised as Omani origin. Additionally, an Iranian exchange house, Mehrdad Geramian Nik and Partners, and its leadership were targeted for processing hundreds of millions in foreign currency for sanctioned Iranian banks. These actions aim to disrupt Iran's ability to circumvent sanctions and fund its activities.