The United States sanctioned a network involved in the sale of Iranian liquefied petroleum gas (LPG). On Friday, June 5, 2026, the U.S. Department of the Treasury imposed new Iran-related sanctions targeting a network of individuals, companies, and vessels responsible for transporting hundreds of millions of dollars’ worth of LPG of Iranian origin.
According to an official statement by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), the network used front companies in the United Arab Emirates and China, foreign bank accounts, and the Iranian regime’s shadow fleet to transport millions of barrels of Iranian LPG. It deliberately concealed the origin of the cargo by labeling it as Omani LPG in order to sell it to end users in South and East Asia, including Bangladesh.
Details of the sanctions:
Six vessels, primarily flying the Panamanian flag, were added to the sanctions list. They had transported hundreds of thousands to millions of barrels of Iranian LPG.
Key entities and individuals sanctioned include UAE-based companies such as Butani Trading LLC, Dundlod Trading FZE, and ADH Energy FZE, as well as entities in China and Afghan and Turkish individuals involved in the network.
Mehrdad Geramian Nik and Partners Company, an exchange house, along with its managers Mehrdad Geramian Nik and Romina Geramian Nik, were also sanctioned. The exchange house moved hundreds of millions of dollars in foreign currency on behalf of sanctioned Iranian banks, including Tejarat Bank and Bank Mellat.
U.S. Treasury Secretary Scott Bessent said in a statement that Iran’s economy is in disarray, and its military capabilities have been significantly weakened. Through the Economic Fury campaign, the Treasury Department will continue to cut off access to Iran’s shadow fleet, shadow banking networks, and global trade routes.
This action is part of the Trump administration’s broader Economic Fury campaign aimed at maximizing pressure on Iran’s export revenues.
