US Treasury Sanctions Network Transporting Iranian LPG to Asian Markets

The US Treasury Department announced new sanctions targeting a network that transports liquefied petroleum gas from Iran to South and East Asian markets. The network used shell companies in the United Arab Emirates and China to disguise Iranian gas as Omani to evade US sanctions, according to the Treasury statement. Treasury Secretary Scott Bessent said Iran’s economy is in collapse and its military is depleted. The sanctions are part of the "Economic Anger" program, which targets Iran’s informal fleet, banking networks and access to global trade. The measures also targeted Mehrdad Jermian Nik ve Ortakları, an exchange bureau and its managers accused of transferring hundreds of millions of dollars to Iranian banks. Afghan national Sarbaz ABD Zadeh and Turkish national Mehmet Şakul Miehndost were sanctioned for exporting Iranian gas through UAE-based shell companies and falsifying its origin as Omani. The Treasury designated companies including Botani Trading, Dundloud Trading, ADH Energy and Shanghai Qian Yi Energy, along with six tanker companies, under the sanctions regime.