OFAC Sanctions 18 Hong Kong Companies for Alleged Involvement in Iranian Oil Trade
On July 9, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a new round of sanctions targeting 22 companies based in Hong Kong, the United Arab Emirates, and Turkey. Among them, 18 companies are based in Hong Kong and have been designated for allegedly facilitating the sale of Iranian oil in violation of U.S. sanctions. The U.S. government alleges these entities helped transfer hundreds of millions of dollars in oil revenue to support the Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF)—a designated terrorist organization.
According to Treasury Secretary Scott Bessant, the sanctions are intended to disrupt Iran’s financial infrastructure and prevent the flow of funds to activities that threaten U.S. national security and regional stability. OFAC’s designation adds these companies to the Specially Designated Nationals (SDN) List, meaning that U.S. persons are generally prohibited from engaging in transactions with them, and their assets within U.S. jurisdiction are blocked.
The 18 Hong Kong-based companies now included on the SDN List are as follows:
- AMITO TRADING LIMITED
- CETTO INTERNATIONAL LIMITED
- FINESSE GLOBAL TRADING LIMITED
- FUTURE RESOURCE TRADING LIMITED
- GAH PETROCHEMICAL TRADING LIMITED
- JTU ENERGY LIMITED
- LAVIDA CORPORATION LIMITED
- MACERA INTERNATIONAL LIMITED
- MARMERTH LIMITED
- METALLEX LIMITED
- MIST TRADING CO., LIMITED
- MOON IMP AND EXP CO., LIMITED
- PEAKWAY GLOBAL LIMITED
- QUEENS RING LIMITED
- RADIX TRADE LIMITED
- SHELF TRADING LIMITED
- STAR OIL GLOBAL LIMITED
- VENTUS TRADE LIMITED
What this means for companies doing business in Asia and the Middle East
These new sanctions have direct implications for international trade and logistics operations. U.S. businesses must immediately screen all current and prospective counterparties against the updated SDN list to ensure they are not engaging with any of the named entities—either directly or indirectly. This includes transactions involving freight forwarding, customs brokerage, financing, and any type of supply chain service.
Failure to comply with OFAC regulations—even unintentionally—can result in severe civil or criminal penalties. Importers should closely examine their vendor networks, freight booking channels, and payment flows to ensure none are linked to the newly designated entities or their affiliates.
Considerations for compliance
- Consult legal counsel if you believe your company may have engaged with one of the named parties or related affiliates.
- Update internal denied-party screening tools to reflect the July 9 SDN designations.
- Audit existing supplier and service-provider relationships for potential exposure.
- Review international payment chains to detect any use of offshore accounts or intermediaries linked to the listed companies.
As new regulations continue to evolve, navigating these changes requires experienced legal counsel. At Liang + Mooney, PLLC, our seasoned tariff lawyers can answer your questions and concerns with sophisticated legal solutions. If you seek strategic counsel and insight into how these changes could affect your operations, we invite you to contact us to schedule a consultation.