WorldPosted at: Jun 6 2026 4:17PM


US expands sanctions on Iran's energy smuggling and shadow financial networks

Washington, June 6 (UNI) The United States unleashed a new wave of sanctions on what it described as a "sophisticated network" involved in "illicit energy trade and global financial evasion," through which it allegedly smuggled hundreds of millions of dollars' worth of Iranian liquefied petroleum gas (LPG) to markets in South and East Asia.
The network used front companies in the United Arab Emirates and China, along with Iran's shadow fleet of vessels, to disguise Iranian-origin fuel and circumvent US sanctions.
"We are also sanctioning an Iranian currency exchange house and its operators who work with other actors to help Iran facilitate billions of dollars in illicit financial transactions. These dealings enable the regime to move funds derived from oil sales while evading the international financial system," the statement said.
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