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U.S. Sanctions Singapore-Based Wellbred Capital Over Iran Links
OFAC said the network moves oil and petroleum products from Iran and Russia to buyers worldwide, generating tens of billions of dollars in profits.
- On Tuesday, the U.S. Treasury Department's Office of Foreign Assets Control sanctioned Singapore-based Wellbred Capital and subsidiaries in the United Arab Emirates and Switzerland for alleged ties to Iran's oil revenue generation.
- Treasury officials stated that Iranian shipping magnate Mohammad Hossein Shamkhani is "ultimately responsible for Wellbred's operations," despite building the firm as a separate entity outside his broader network.
- These measures target nearly 60 companies, individuals, and ships, including Azerbaijan national Narmina Dadashova, who faces sanctions for "blocking property and interests in property" and destabilizing Ukraine.
- Treasury Secretary Scott Bessent declared an "economic D-Day" on Iran on Monday, citing a stalemate in the war that has disrupted global supply chains and necessitated these financial measures.
- Wellbred trades in petrochemicals and liquefied petroleum gas, while the U.S. also sanctioned Singaporean Mansoor Tayabbhai Gandhi, who faces lawsuits over $1.3 million in outstanding shipping payments.
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Wellbred Capital and the network behind Iranian oil shipments are targeted – Washington opens the cycle of secondary sanctions on brokers, charterers and shipping service providers
·Marousi, Greece
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Wellbred is in contact with Iranian oil ship Mohammad Hossein and Shamchani, says the US Treasury Department, which recently announced tougher action against companies with links with Iran.
·Vienna, Austria
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right5Center2Last UpdatedBias Distribution62% Right
Bias Distribution
- 62% of the sources lean Right
62% Right
13%
C 25%
R 62%
Factuality
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