The U.S. Treasury Department has announced a new round of sanctions targeting Iranian entities, including the Amin Exchange and several vessels linked to Iran’s oil trade. These measures aim to curb Iran’s efforts to bypass international restrictions and access the global financial system.
Amin Exchange, also known as Ebrahimi and Associates Partnership Company, is accused of operating a vast network of shell companies in various countries, including the UAE, Turkey, and Hong Kong. The U.S. claims that Iranian exchange houses conduct billions of dollars in currency transactions annually, facilitating the government’s evasion of sanctions.
“Iran’s shadow banking system enables illegal fund transfers for terrorist activities. As the Treasury systematically dismantles Tehran’s shadow banking and fleet under Economic Fury, financial institutions must remain vigilant against how the regime manipulates the international financial system to sow chaos,” stated U.S. Treasury Secretary Scott Bessent.
The sanctions also extend to 19 vessels involved in transporting Iranian oil and petrochemical products to foreign buyers. Among the affected ships are the Barbados-flagged gas tanker Great Sail, the Palau-flagged tanker Ocean Wave, and the Panama-flagged oil tanker Swift Falcon.
In a related development, tensions escalated on February 28 when Israel conducted an attack on Tehran. Following this, U.S. President Donald Trump announced the initiation of a major military operation against Iran, aimed at neutralizing perceived threats from the Iranian regime. He accused Iran of funding and training militants in various regions, including Syria, Lebanon, and Palestine.
The Islamic Revolutionary Guard Corps (IRGC) responded by launching missiles and drones towards Israel and targeting U.S. military bases in Qatar, Saudi Arabia, and the UAE. The European Union has reiterated its commitment to ensuring regional security and stability in the Middle East.
On the same day, Trump claimed that Iran’s Supreme Leader Ali Khamenei was dead, a statement later confirmed by the Islamic Republic News Agency (IRNA). By March 1, the IRGC announced the commencement of a significant offensive operation against Israel and U.S. bases, prompting Trump to warn of a strong retaliatory strike.
On March 6, Trump called for a complete overhaul of Iran’s leadership and indicated he had potential candidates for a new, favorable leader. Two days later, Iran’s Assembly of Experts appointed Mojtaba Khamenei, the son of the slain ayatollah, as the new Supreme Leader.
On March 26, Trump announced a temporary halt to the destruction of Iranian energy infrastructure until April 6. However, due to a lack of progress in negotiations, he extended the deadline by 20 hours to the evening of April 7.
Trump threatened to destroy all bridges and power plants in Iran, warning of severe consequences for the Iranian people and potential regional instability. On April 6, Iran presented a ten-point plan to the U.S. and Israel for ending hostilities through Pakistan.
On April 7, Trump stated he agreed to postpone military strikes on Iran for two weeks, contingent upon the reopening of the Strait of Hormuz. He described the ceasefire as mutual, with Iran’s ten-point proposal serving as a basis for negotiations.
Iranian Foreign Minister Abbas Araghchi noted that safe passage through the Strait of Hormuz within two weeks would depend on coordination with Iran’s armed forces and technical considerations. By May 1, Trump informed Congress that hostilities between the U.S. and Iran, which began on February 28, had ceased, although American military forces would remain in the region.
The U.S. has imposed new sanctions on Iranian entities and vessels to combat Iran's evasion of international restrictions. This follows escalating military tensions between the U.S., Israel, and Iran, including recent attacks and military operations.