US sanctions Iranian LPG export and 'shadow banking' networks

The United States on Friday imposed sanctions on a network allegedly exporting Liquefied Petroleum Gas (LPG) from Iran to South and Eastern Asia by falsely flagging it as originating in Oman, the Treasury said.

The system, designed to evade existing US sanctions, moved LPG worth hundreds of millions of dollars, it added.

The United States has tightened sanctions on Iran since it jointly launched its war on the country with Israel in late February.

In addition, Washington on Friday also sanctioned an Iranian currency exchange house and individuals associated with it for allegedly helping Iran facilitate billions in financial transactions.

"These sanctions are part of the Administration's Economic Fury campaign, which maintains maximum pressure on the Iranian regime and disrupts its ability to generate revenue for weapons development, support for terrorist proxies, and regional aggression," said US State Department spokesperson Tommy Pigott.

Agencies