OFAC issues new Iran-related designations on shell entities
OFAC designated Iran-linked entities including Billion Nexus Int'l (Hong Kong) and Branch Saying International Trading (Marshall Islands) under EO 13902.
OFAC targeted newly incorporated shell entities in Hong Kong and the Marshall Islands supporting Iran's petroleum and petrochemical trade. The use of recently established front companies signals continued evasion typologies requiring enhanced beneficial ownership and vessel tracking controls.
Iran EO 13902 designations expose global banks to secondary sanctions and require enhanced KYC on Hong Kong and offshore trade finance clients.
Action Required
Screen counterparties against new Iran designations and review exposure to Hong Kong and Marshall Islands shell companies with recent incorporation dates.
Iran shell-company designations directly affect trade finance, correspondent banking and shipping sector risk assessments.
Refresh sanctions screening with new SDN entries. Review trade finance and correspondent exposure to Hong Kong/Marshall Islands entities incorporated in 2025. Enhance UBO controls on new shell companies.
“OFAC designated BILLION NEXUS INT'L CO LTD (Hong Kong, est. 22 Jul 2025) and BRANCH SAYING INTERNATIONAL TRADING CO LTD (Marshall Islands, est. 10 Sep 2025) under [IRAN-EO13902].”
Published: 2026-07-29