The US Department of the Treasury Targets Iranian LPG “Magnate” for Sanctions

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has recently designated Iranian national and liquefied petroleum gas (LPG) “magnate” Seyed Asadoollah Emamjomeh and his corporate network for their involvement in shipping hundreds of millions of dollars’ worth of Iranian LPG and crude oil to foreign markets. Emamjomeh’s network includes the vessel Tinos I, which attempted to load cargo on its maiden voyage off the coast of Houston last year but failed.

Secretary of the Treasury Scott Bessent stated, “Emamjomeh and his network sought to export thousands of shipments of LPG—including from the United States—to evade US sanctions and generate revenue for Iran.”

For over a decade, Emamjomeh and his son Meisam Emamjomeh, who is based in the United Arab Emirates, have managed an LPG sales, transportation, and delivery network through various Iran and UAE-based companies. Emamjomeh and his UAE-based company, Caspian Petrochemical, have exported numerous LPG shipments from Iran to Pakistan and conducted business worth tens of millions of dollars on behalf of Persian Gulf Petrochemical Industry Commercial Co. (PGPICC).

This latest round of sanctions marks the seventh targeting Iranian oil sales since President Donald Trump initiated a campaign of maximum economic pressure on Iran through National Security Presidential Memorandum 2 (NSPM-2).