WASHINGTON—Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is intensifying its efforts to disrupt and degrade the illicit shipping and sanctions evasion network of Mohammad Hossein Shamkhani (Shamkhani). This action is part of Treasury’s ongoing efforts to ramp up economic pressure on the Iranian regime after it resumed destabilizing attacks in the Strait of Hormuz. The Shamkhani network remains a major force behind Iran’s oil exports and has expanded into global containerized shipping and commodities trading.
“The Iranian regime survives on deception, and the Shamkhani network is one of its most profitable engines,” said Secretary of the Treasury Scott Bessent. “Treasury is shutting down the financial infrastructure that allows the regime to continue its threats to U.S. national security and global shipping.”
Today’s action includes more than 50 individuals, entities, and vessels that enable Shamkhani and the Iranian regime to continue profiting while the Iranian people remain burdened under the economic yoke imposed by their government. Today’s action builds on OFAC’s April 2026 and July 2025 designation actions targeting the Shamkhani network, and Treasury has now sanctioned more than 200 individuals, entities, and vessels operating under Shamkhani’s patronage.
Today’s action is being taken pursuant to Executive Order (E.O.) 13902, which provides authority to the Secretary of the Treasury, in consultation with the Secretary of State, to identify and impose sanctions on key sectors of Iran’s economy. Today’s action also reflects OFAC’s ongoing close collaboration with Treasury’s Financial Crimes Enforcement Network (FinCEN). Treasury continues to target Iranian oil sales under the President’s National Security Presidential Memorandum 2 (NSPM-2).
KEY FINANCIAL and LOGISTICS ASSOCIATES
Iranian nationals Hossein Ghorbani Zahed (Zahed) and Mohammad Reza Rahbar Madani (Madani), both of whom also hold Dominica passports, have worked as primary financiers for Shamkhani’s network, providing it with exchange house services including access to foreign currency and shell companies based outside of Iran. Madani and Zahed are essential for the network’s ability to trade in sanctioned goods and recoup the proceeds. Zahed is the beneficial owner of British Virgin Islands- and Dubai-based Golden Nest Group Ltd, and the director of Dubai-based BSG Management Ltd.
Iranian and Russian dual national Ali Rakhbarmadani, one of Shamkhani’s closest business associates, is linked to multiple companies within the network, including sanctioned companies Koban Shipping L.L.C., Crios Shipping L.L.C., and Marvise SMC DMCC. Ali Rakhbarmadani is also the owner of Dubai-based Al Kina Commercial Broker LLC—a company tied to the Shamkhani network—and was the deputy chief executive officer of sanctioned Oriel Group prior to its designation. Ali Rakhbarmadani effectively operated as the head of shipping for Shamkhani, handling much of the network’s communications with customers and partners. Ali Rakhbarmadani encouraged the Russian side of the Shamkhani network’s trade to find ways to avoid the price cap on Russian oil to maximize profits following Russia’s invasion of Ukraine.
Martin Austin Kaalund (Kaalund), a Danish national, and Alessandra Ronco (Ronco), an Italian national, both spent years as executives of sanctioned Shamkhani shipping oversight company House of Shipping Investment FZCO (House of Shipping), most recently as the global chief financial officer and global chief executive officer, respectively. Kaalund and Ronco played key day-to-day and strategic roles in House of Shipping’s operations. Kaalund and Ronco are the co-founders and managers of Dubai-based Evorit Strategy Consulting LLC-FZ.
Asghar Aghili Dehkordi, an Iranian national, has also served in a strategy role for multiple Shamkhani network companies, including sanctioned Milavous Group Ltd.
Indian national Jijin George (George) and Iranian national Behzad Moghadas are involved in facilitating the operation of vessels within the Shamkhani fleet. George is an employee of sanctioned company Teodor Shipping L.L.C. Gautam Vishavdeep (Vishavdeep), an Indian national, is a manager within the Shamkhani network, facilitating shipments of Iranian oil and coordinating with network partners. British national Maksim Tsernosjov is a senior vessel inspector in Shamkhani’s illicit shipping network. UAE-based Dezera Shipping FZCO provides management services for Shamkhani vessels OPAL (IMO 9467158) and JADE (IMO 9418999), including serving as a billing company. UAE-based Glavos Shipping FZCO is a service provider to the Shamkhani fleet.
Mohammad Reza Rahbar Madani, Hossein Ghorbani Zahed, Ali Rakhbarmadani, Asghar Aghili Dehkordi, Glavos Shipping FZCO, Dezera Shipping FZCO, Maksim Tsernosjov, Gautam Vishavdeep, Behzad Moghadas, and Jijin George are being designated pursuant to E.O. 13902 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Mohammad Hossein Shamkhani.
Al Kina Commercial Broker LLC is being designated pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Ali Rakhbarmadani.
Martin Austin Kaalund is being designated pursuant to E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, House of Shipping Investment FZCO. Evorit Strategy Consulting LLC-FZ is being designated pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Martin Austin Kaalund. Alessandra Ronco is being designated pursuant to E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, Evorit Strategy Consulting LLC-FZ.
Golden Nest Group Ltd and BSG Management Ltd are being designated pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Hossein Ghorbani Zahed.
SHAMKHANI’S CONTAINERIZED SHIPPING
Singapore-based Sea Lead Shipping PTE. Ltd. (Sea Lead) and its subsidiaries Dubai-based Sea Lead Shipping DMCC, Marshall Islands-based Sea Lead Shipping Marshall Islands Ltd, and India-based Sea Lead Shipping Agency India Private Limited are key containerized shipping firms within the Shamkhani network, managing and operating a fleet of vessels carrying goods around the world. Sea Lead, its subsidiaries, and Dubai-based Volta Shipping Services LLC enable the network to carry licit and illicit goods to and from Iran, including to Iran-backed foreign terrorist organization Ansarallah, commonly known as the Houthis, in Yemen. Sea Lead is the manager and operator of Panama-flagged SHENTON WAY (IMO 9146314) and TANJONG PAGAR 1 (IMO 9404508), and Antigua and Barbuda-flagged PAYA LEBAR (IMO 9134232).
Dubai-based We Freight Shipping LLC makes up part of the We Freight group of companies, with offices in UAE, India, and Thailand, that provide transportation intermediary services to meet the needs of the Shamkhani network’s container shipping businesses. The We Freight group of companies similarly allows for the blending of illicit and licit trade, with the proceeds of both ultimately benefiting Shamkhani.
OFAC is also sanctioning the following vessels and associated companies operating as part of the Shamkhani containerized fleet and in Shamkhani-associated shipping networks. OFAC is designating the following owners and identifying their respective vessels as blocked property:
- Dubai-based Lubeck Shipping LLC, the owner and operator of Palau-flagged GEMMA (IMO 9509097);
- Marshall Islands-based Aare Lines Inc., the owner and operator of St Kitts & Nevis-flagged NADIA (IMO 9122461);
- Marshall Islands-based Hope 1 Shipping Inc, the owner and operator of Antigua and Barbuda-flagged HOPE 1 (IMO 9514339);
- Hong Kong-based Ocean Searum One Limited, the owner and operator of Barbados-flagged ELPINIKI (IMO 9606015), also known as CORN;
- St Kitts & Nevis-based Nuvetrro Shipping Inc, the owner and operator of Antigua and Barbuda-flagged JADE (IMO 9418999);
- St Kitts & Nevis-based Veltrrivo Shipping Inc, the owner and operator of Antigua and Barbuda-flagged OPAL (IMO 9467158); and
- Marshall Islands-based Kangri 1 Inc, the owner and operator of Antigua and Barbuda-flagged CICCIO (IMO 9192442).
Hong Kong-based Sai Wan Shipping Limited, one of the network’s many shipping firms, is the previous manager and operator of HOPE 1, ELPINIKI, JADE, and OPAL.
As of March 2026, sanctioned House of Shipping’s group of companies included Sai Wan Shipping Limited, Sea Lead Shipping PTE. Ltd. and subsidiaries of Sea Lead Shipping PTE. Ltd., Sea Lead Shipping DMCC, and Sea Lead Shipping Marshall Islands Ltd.
The Shamkhani fleet’s reach extends to the Caspian Sea, where it controls a group of container ships and cargo vessels primarily transporting goods between Iran and Russia. Shamkhani’s Caspian Sea fleet includes:
- Iran-flagged SEPEHR PAYAM (IMO 9110535), owned by Iran-based Ava Tarabar Darya Company;
- Iran-flagged ERIKA (IMO 8721454), owned by the aforementioned Shamkhani financier Mohammad Reza Rahbar Madani; and
- Iran-flagged ARKANOOR 2 (IMO 8727848) and ARKANOOR 3 (IMO 8832083), both owned, operated, and managed by Iran-based Sepehr Noor Mobin Company.
- The fleet further includes four vessels with undisclosed ownership and governed by unknown flag states, which are known to operate for Shamkhani:
- SEA CRUISER (IMO 8729963);
- SEA CASTLE (IMO 8891572);
- SEA ANCHOR (IMO 8858099); and
- SEA GALLEON (IMO 8843666).
OFAC is also sanctioning two tankers operating as part of Shamkhani’s fleet: DARIKA (IMO 9506693), owned by Marshall Islands-based Hansa Shipping Inc, and VIRENT (IMO 9332171), owned by Marshall Islands-based Platinum Knights Ltd. DARIKA and VIRENT have transported cargoes of Russian petroleum products for the Shamkhani network.
Sea Lead Shipping PTE. Ltd. is being designated pursuant to E.O. 13902 for being owned or controlled by, or to have acted or purported to act for or on behalf of, directly or indirectly, Mohammad Hossein Shamkhani. Sea Lead Shipping DMCC, Sea Lead Shipping Marshall Islands Ltd, and Sea Lead Shipping Agency India Private Limited are being designated pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Sea Lead Shipping PTE. Ltd.
Volta Shipping Services LLC, We Freight Shipping LLC, Lubeck Shipping LLC, Aare Lines Inc., Hope 1 Shipping Inc, Ocean Searum One Limited, Nuvetrro Shipping Inc, Veltrrivo Shipping Inc, Ava Tarabar Darya Company, Sepehr Noor Mobin Company, Hansa Shipping Inc, Platinum Knights Ltd, Sai Wan Shipping Limited, and Kangri 1 Inc are being designated pursuant to E.O. 13902 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Mohammad Hossein Shamkhani.
ARKANOOR 2 and ARKANOOR 3 are being identified as blocked property in which Sepehr Noor Mobin Company has an interest.
SHENTON WAY, TANJONG PAGAR 1, and PAYA LEBAR are being identified as blocked property in which Sea Lead Shipping PTE. Ltd. has an interest.
SEPEHR PAYAM is being identified as blocked property in which Ava Tarabar Darya Company has an interest.
ERIKA is being identified as blocked property in which Mohammad Reza Rahbar Madani has an interest.
SEA CRUISER, SEA CASTLE, SEA ANCHOR, and SEA GALLEON are being identified as blocked property in which Mohammad Hossein Shamkhani has an interest.
SANCTIONS IMPLICATIONS
As a result of today’s action, all property and interests in property of the designated or blocked persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, or 50 percent or more by one or more blocked persons are also blocked. Unless authorized by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons.
Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC’s Economic Sanctions Enforcement Guidelines provide more information regarding OFAC’s enforcement of U.S. economic sanctions. In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities involving designated or otherwise blocked persons. The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated person, or the receipt of any contribution or provision of funds, goods, or services from any such person. Non-U.S. persons are also prohibited from causing or conspiring to cause U.S. persons to wittingly or unwittingly violate U.S. sanctions, as well as engaging in conduct that evades U.S. sanctions. Individuals located in the U.S. or abroad who provide information about sanctions violations to Treasury’s Financial Crimes Enforcement Network (FinCEN) Whistleblower Incentive Program may be eligible for awards if the information they provide leads to a successful enforcement action that results in monetary penalties exceeding $1,000,000.
The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the SDN List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. For information concerning the process for seeking removal from an OFAC list, including the SDN List, or to submit a request, please refer to OFAC’s guidance on Filing a Petition for Removal from an OFAC List.