US Imposes Sanctions on Iran Exchange House, Shadow Fleet Maritime Activity Reports, Inc. May 19, 2026 Credit: Adobe Stock/Pixels Stock The Trump administration on Tuesday imposed sanctions on an Iranian foreign currency exchange house and what it said were front companies overseeing transactions on behalf of Iranian banks as the U.S. maintains pressure on Tehran. The move came after Iran said its latest peace proposal to the United States over the U.S.-Israeli led war that started February 28 involves ending hostilities on all fronts including Lebanon, the exit of U.S. forces from areas close to Iran, and reparations for destruction caused by the conflict. The Treasury Department imposed sanctions on the Iran-based Amin Exchange, also known as Ebrahimi and Associates Partnership Company, which it said has a widespread network of front companies spanning multiple jurisdictions, including in the United Arab Emirates, Turkey, and Hong Kong. The U.S. also blocked 19 vessels it said were involved in shipping Iranian petroleum and petrochemicals to foreign customers. The Treasury Department said Iranian exchange houses facilitate billions of dollars in foreign currency transactions a year, enabling the government to evade sanctions and access the international financial system. It said the front companies oversee hundreds of millions of dollars in transactions on behalf of Iranian banks. "Iran’s shadow banking system facilitates the illicit transfer of funding for terrorist purposes," Treasury Secretary Scott Bessent said in a release. "As Treasury systematically dismantles Tehran’s shadow banking system and shadow fleet under Economic Fury, financial institutions must be alert to how the regime manipulates the international financial system to wreak havoc." The Office of Foreign Assets Control also designated the following, which it said were front companies assisting Amin Exchange: • China-based Ningbo Jiarui Trading Co., Ltd.; • Hong Kong-based Starshine Petrochemical