Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating Iranian national and liquified petroleum gas (LPG) magnate Seyed Asadoollah Emamjomeh and his corporate network, which is collectively responsible for shipping hundreds of millions of dollars’ worth of Iranian LPG and crude oil to foreign markets. Emamjomeh’s expansive network includes a vessel, the TINOS I, which intended but failed to load cargo in 2024 off the coast of Houston, Texas. In addition to crude oil, LPG continues to be a major source of revenue for the Iranian regime, the proceeds of which fund Iran’s nuclear and advanced conventional weapons programs, as well as regional proxy groups and partners such as Hizballah, the Houthis, and Hamas.
“Emamjomeh and his network sought to export thousands of shipments of LPG-including from the United States-to evade U.S. sanctions and generate revenue for Iran,” said Secretary of the Treasury Scott Bessent. “The United States remains committed to holding accountable those who seek to provide the Iranian regime with the funding it needs to further its destabilizing activities in the region and around the world.”
Today’s action is being taken pursuant to the administration’s maximum pressure campaign and Executive Order (E.O.) 13902, which targets those operating in certain sectors of the Iranian economy. This action is in furtherance of Treasury’s implementation of National Security Presidential Memorandum 2 (NSPM-2), instituting a campaign of maximum economic pressure on Iran.
iranian lpg network
For more than a decade, Iran-based Seyed Asadoollah Emamjomeh (Emamjomeh) and his son, United Arab Emirates (UAE)-based British and Iranian national Meisam Emamjomeh (Meisam), have owned and operated an LPG sales, transportation, and delivery network using multiple Iran and UAE-based companies. Emamjomeh and his UAE-based company, Caspian Petrochemical FZE (Caspian Petrochemical) are part of a network that has exported thousands of shipments of LPG from Iran to Pakistan and have conducted tens of millions of dollars in business on behalf of Persian Gulf Petrochemical Industry Commercial Co. (PGPICC).
OFAC designated Persian Gulf Petrochemical Industry Commercial Co. (PGPICC) pursuant to E.O. 13382, a counterproliferation authority, on July 7, 2019, for being owned or controlled by Persian Gulf Petrochemical Industries Company (PGPIC). PGPIC was itself designated pursuant to E.O. 13382 that same day for having provided financial support to Khatam al-Anbiya, the engineering conglomerate of Iran’s Islamic Revolutionary Guard Corps (IRGC).
Until recently, Emamjomeh was also the owner of UAE-based Pearl Petrochemical FZE, before passing ownership to Meisam in October 2024. Pearl is the beneficial owner of the TINOS I (IMO 9969821), a Very Large Gas Carrier that attempted to load LPG from the United States in June 2024 for sale to China. Meisam acts as director and chief executive officer (CEO) of United Kingdom-based Worldwide LPG Limited, while also serving on the board of directors of many of Emamjomeh’s Iran-based companies.
Emamjomeh also owns or controls nine additional LPG companies in Iran, including, reportedly, one company with a monopoly on the National Iranian Gas Company’s LPG deliveries. His companies include: Parsa Fidar Paydar Engineering and Technology Company, Nilgon Parsa Caspian Shipping Company, Arsa Gas Company, Pasar Gas Company, Petro Parsa Caspian Iranian Company, Pasar Gas Novin Trading Company, Parsa Salakh Qeshm Industrial Complex, Parsa Trabar Caspian International Transportation Company, and Parsa Trabar Persia International Transportation Company.
Emamjomeh is being designated pursuant to E.O. 13902 for operating in the petroleum sector of the Iranian economy. Caspian Petrochemical FZE, Parsa Fidar Paydar Engineering and Technology Company, Nilgon Parsa Caspian Shipping Company, Arsa Gas Company, Pasar Gas Company, Petro Parsa Caspian Iranian Company, Pasar Gas Novin Trading Company, Parsa Salakh Qeshm Industrial Complex, Parsa Trabar Caspian International Transportation Company, and Parsa Trabar Persia International Transportation Company are being designated pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Emamjomeh.
Meisam is being designated pursuant to E.O. 13902 for operating in the petroleum sector of the Iranian economy and for having acted or purported to act for or on behalf of, directly or indirectly, Arsa Gas Company. Pearl Petrochemical FZE and Worldwide LPG Limited are being designated pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Meisam. The TINOS I is being identified pursuant to E.O. 13902 as property in which Pearl Petrochemical FZE has an interest.
SANCTIONS IMPLICATIONS
As a result of today’s action, all property and interests in property of the designated persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. Unless authorized by a general or specific license issued by OFAC or exempt, U.S. sanctions generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons.
Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC’s Economic Sanctions Enforcement Guidelines provide more information regarding OFAC’s enforcement of U.S. economic sanctions. In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities with designated or otherwise blocked persons.