US OFAC designates Pedram Pirouzan oil-trade network and issues General License W for wind-down
Sanctions-screening teams must add the Pedram Pirouzan network and Nasser Ghasemi Rad / Radin Exchange entities to filters before next payment cycle; transactions outside General License W's scope are blocked
Change
US OFAC designated a network of Iran-linked oil-trade entities including Pedram Pirouzan and Associates Partnership Company, Nasser Ghasemi Rad and Associates / Radin Exchange, and Qingdao Haiye Oil Terminal, alongside individuals across Iran, UAE, China, and Hong Kong, and issued General License W authorising wind-down of transactions with the persons blocked on 1 May 2026.
Why it matters
The designations target indirect Iran oil-export channels routed through UAE and Hong Kong shell entities. US persons and counterparties are prohibited from dealing with the listed parties unless the activity falls within General License W's authorised wind-down scope. Non-US firms transacting with the listed parties face secondary-sanctions exposure under EO 13902 and EO 13846. The action is paired with FAQ 1250 and an OFAC Alert on Strait of Hormuz passage demands.
Implications
- — Bank sanctions-screening teams must add the listed individuals and entities — including Pedram Pirouzan and Associates Partnership Company, Nasser Ghasemi Rad and Associates / Radin Exchange, Qingdao Haiye Oil Terminal, AL SAHRA TRADE PETRO DMCC, BAB AL KHANDAQ TRADING, and the Hong Kong shells (Atlas International Trading, Blinche Trading, Central Park / Sinoplas, Lightborn Goods, Mullingar / Amott Trading) — to SDN filters before next funds-transfer cycle; payments to listed parties trigger blocking.
- — Trade-finance operations teams handling Iran-adjacent oil cargoes, UAE-routed payments, or Hong Kong-incorporated counterparties must rescreen current voyages, fixtures, and documentary instruments against the expanded SDN list; non-US firms continuing to transact with listed parties face secondary-sanctions exposure.
- — Compliance teams unwinding existing exposure to the listed parties must scope wind-down activity within General License W's authorised conditions; activity outside the licence scope reverts to a prohibited dealing with blocked persons.
Who is affected
- — Bank sanctions-screening teams
- — Trade-finance operations teams handling Iran-adjacent oil cargoes and UAE/Hong Kong-routed payments
- — Compliance teams unwinding existing exposure to the listed parties