05/06/2026
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05/06/2026
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WASHINGTON, Jun 5: The United States Treasury Department has announced a fresh round of sanctions targeting what it describes as a complex Iranian-linked network involved in smuggling liquefied petroleum gas (LPG) and operating shadow banking channels to evade international restrictions. The move is part of Washington’s ongoing pressure campaign against Tehran’s energy exports and financial networks.
According to the Treasury, the sanctioned network used front companies based in the United Arab Emirates and China, along with falsified shipping records and a fleet of vessels, to disguise Iranian-origin LPG as Omani fuel and transport millions of barrels to markets across Asia. The department said the operation relied on “shadow fleet” vessels and foreign bank accounts to conceal the true source of the shipments and bypass US sanctions.
Among those designated are Afghan national Sarbaz Abdul Zada and Turkish national Mohammad Shakol Mihandoust, also known as Haji Shakoor, who are accused of operating UAE-based companies, including Butani Trading LLC, Dundlod Trading FZE, and ADH Energy FZE. One of the firms, ADH Energy FZE, was reportedly used in 2026 to facilitate the sale and export of millions of barrels of Iranian LPG to Bangladesh. The Treasury also cited vessels such as LPG SEVAN and several tankers, including MD 23, GLENDALE, AMIR GAS, GAS LAGOON, MILE, and GAZ GMS, alleging their involvement in transporting large volumes of sanctioned fuel.
In a parallel action, the Office of Foreign Assets Control (OFAC) also designated Iranian exchange house Mehrdad Geramian Nik and Partners Company, along with its leadership, accusing it of moving hundreds of millions of dollars through foreign currency channels on behalf of sanctioned Iranian banks including Bank Tejarat, Bank Mellat, and Bank Pasargad.
The Treasury stated that the sanctions freeze any US-based assets of the designated individuals and entities and prohibit American persons from conducting business with them, while warning that foreign institutions engaging with the network could also face secondary sanctions. Officials said the measures are aimed at disrupting Iran’s ability to finance its energy exports and access global financial systems.
