U.S. Treasury Targets Iranian LPG Smuggling Network

The U.S. Treasury Department has imposed sanctions on a network involved in smuggling Iranian-origin liquid gas disguised as Omani LPG to Asia. The crackdown includes sanctions on various entities and tankers, aimed at pressuring Tehran amid ongoing U.S.-Iran negotiations. Sanctions also target key exchange operations.

The U.S. Treasury Department announced on Friday that it imposed sanctions on a network involved in smuggling Iranian-origin liquid petroleum gas, disguising it as Omani LPG, to South and East Asia.

The Trump administration continues to apply pressure on Tehran by adding new Iran-linked sanctions, even as diplomatic negotiations persist. The latest sanctions target 12 entities, with five located in the Marshall Islands, four in the UAE, and one in China, as detailed on the department’s website. Six tankers have been identified, including four Panama-flagged vessels.

The Treasury Department accused the network of using front companies in the UAE and China, along with foreign bank accounts, to covertly move millions of barrels of Iranian LPG. Treasury Secretary Scott Bessent emphasized the continued dismantling of Iran’s shadow fleet and banking networks. Additional sanctions were placed on Iranian exchange house Mehrdad Geramian Nik and Partners Co for transferring vast amounts of foreign currency for sanctioned Iranian banks.