Middle East — 2026-06-08

US Treasury Sanctions Iranian LPG Smuggling Network Under Economic Fury Campaign

BLUFOFAC will likely designate additional Iranian hydrocarbon or financial targets within 60 days, as the Economic Fury campaign's dual-track structure indicates systematic dismantlement of a pre-mapped sanctions evasion network.

OFAC designated Afghan national Sarbaz Abdul Zada and Turkish national Mohammad Shakol Mihandoust, their UAE and China front companies, and six LPG tankers for shipping Iranian-origin fuel to South and East Asian buyers while falsely labeling it as Omani LPG 12. Treasury's press release detailed deliveries to Bangladesh specifically, including the tanker LPG SEVAN's 750,000-barrel shipment between August and November 2025 and millions of barrels brokered by front company ADH Energy FZE in March 2026 1. OFAC simultaneously designated exchange house Mehrdad Geramian Nik and Partners Company for moving hundreds of millions of dollars on behalf of sanctioned banks Bank Tejarat, Bank Mellat, and Bank Pasargad 12. Both actions were taken under E.O. 13902 as part of the Economic Fury campaign 13.

Analysis
The simultaneous two-track structure, hitting logistics and shadow banking in the same action, signals a methodical program working through a mapped target set rather than reactive enforcement, though the account draws entirely on coordinated government releases with no independent collection. OFAC will likely issue at least one additional Economic Fury action targeting Iranian hydrocarbon exports or financial networks within 60 days of June 8. High confidence rests on the campaign's documented cadence of successive designations and Bessent's explicit commitment to continued targeting. Bangladesh's naming as an LPG end-user creates compliance pressure on Dhaka that prior rounds did not. Designating two individuals disrupts logistics at the margin while Iran's shadow fleet absorbs losses and reroutes through undesignated intermediaries. Financial institutions handling LPG trade finance in South and East Asia face an expanding SDN scope within that window and must calibrate cargo-origin due diligence accordingly.

4 sources

Economic Fury Targets Iranian LPG Smuggling and Shadow Banking Networks - U.S. Department of the Treasury
US sanctions Iranian LPG smuggling, shadow banking networks - Iran International
Sanctions to Strangle Iran's Energy Smuggling and Illicit Financial Networks - U.S. Department of State
US Treasury sanctions network of front companies smuggling Iranian oil - JNS