US imposes sanctions on three Iranian currency exchanges — accusing them of laundering billions
The US Treasury Department imposed sanctions on three Iranian currency exchange houses and over a dozen front companies, accusing them of laundering billions of dollars to support Iran's military and proxy networks. The move targets financial networks that convert Iranian oil revenue—often paid in Chinese yuan—into usable foreign currencies like US dollars and euros. Treasury Secretary Scott Bessent stated the action is part of the Trump administration's 'Economic Fury' campaign to disrupt Iran's ability to fund destabilizing activities.
- ▪The sanctioned exchanges include Opal Exchange, Radin Exchange, and Arz Iran Exchange (also known as Tahayyori Guarantee Society).
- ▪Owners Pedram Pirouzan, Hossein Mohammad Rezaei, Masoud Mohammad Rezaei, Nasser Ghasemi Rad, and Ehsan Tahayyori were personally designated under the sanctions.
- ▪The exchange networks allegedly used shell companies registered in countries like Dominica and St. Kitts and Nevis to conceal Iranian ties and access international banking systems.
- ▪The sanctions freeze any US-based assets and prohibit Americans from conducting business with the designated entities, with risks of secondary sanctions for foreign actors who assist them.
- ▪These actions are part of over 1,000 Iran-related sanctions issued since a February 2025 national security directive signed by President Trump.
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Business exclusive details US imposes sanctions on three Iranian currency exchanges — accusing them of laundering billions By James Franey Published May 1, 2026, 11:16 a.m. ET The US Treasury Department imposed sweeping sanctions Friday on three major Iranian currency exchange houses and more than a dozen front companies, The Post has learned, accusing them of laundering billions of dollars in foreign currency to bankroll Tehran’s military and proxy network. This crackdown, a cornerstone of the Trump administration’s “Economic Fury” maximum-pressure campaign, targets the shadow banking systems that help Iran convert illicit oil revenue.
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