US Sanctions Another Hong Kong Firm Over Iran Shadow Banking
Treasury says Kameng Trading helped an Iranian exchange house launder money, days after a broader U.S. action targeted other Hong Kong entities.
The United States has sanctioned Hong Kong-based Kameng Trading Limited, alleging it facilitated money laundering for the Iranian Pedram Pirouzan Exchange House. The Treasury Department’s OFAC designated Kameng for operating within Iran’s financial sector. This action blocks Kameng’s assets under U.S. jurisdiction and restricts U.S. persons from engaging in transactions with the company.
- The U.S. sanctioned Hong Kong company Kameng Trading Limited on August 28.
- Kameng Trading is accused of helping the Iranian Pedram Pirouzan Exchange House launder money.
- The company allegedly used an overseas financial network for these activities.
- The Treasury Department’s OFAC designated Kameng for operating in Iran’s financial sector.
- Kameng’s assets under U.S. jurisdiction are blocked, and U.S. persons are prohibited from transactions with it.
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