Berlin businesswoman linked to Iran's sanctioned oil trade - ZDF

Mojtaba Zonouri, a member of parliament from Qom, said on Friday the measure on joining the UN Convention for the Suppression of the Financing of Terrorism (CFT) remains suspended in parliament, and that a “triple-urgency motion” submitted by Tehran lawmaker Malek Shariati is under review to prevent it from taking effect.

“As long as we are forced to bypass sanctions to meet the country’s needs, joining the CFT is like putting a rope around our own necks,” Zonouri said, according to Iranian media. He added that Iran could join the convention only “when sanctions are fully lifted.”

His remarks come after Iran’s Expediency Council — the body overseen by Supreme Leader Ali Khamenei that resolves disputes between parliament and the Guardian Council — conditionally approved the country’s accession to the UN convention earlier this month, after years of delay.

The CFT, one of the 49 measures linked to the Financial Action Task Force (FATF) standards, requires countries to track and report financial transactions to combat money laundering and terror financing. Hardliners argue that joining would expose Iran’s financial channels used to evade sanctions and support allied armed groups across the Middle East.

The conditional approval followed the reimposition of UN sanctions on Iran on September 28 under the nuclear deal’s snapback mechanism. In April, over 150 lawmakers had urged the Council to reject the convention until “the risk of renewed sanctions is entirely eliminated.”

The United States has long accused Tehran of using its regional allies to fund and coordinate attacks across the region, labeling Iran the world’s leading state sponsor of terrorism for 39 consecutive years.

The Treasury’s Office of Foreign Assets Control (OFAC) blacklisted 26 firms and three addresses in China, Turkey, and the United Arab Emirates, placing them under strict export controls.

Two subsidiaries of US chipmaker Arrow Electronics in China and Hong Kong were also added for allegedly routing American parts to Iran-linked groups a rare move against a US-listed company.

Arrow said it complies with export regulations and is cooperating with US authorities.

In a separate announcement, the Treasury sanctioned 10 individuals and 38 entities for helping Iran evade petrochemical and shipping restrictions.

"This action targets a network moving hundreds of millions of dollars’ worth of Iranian LPG, along with nearly two dozen shadow fleet vessels, a China-based crude oil terminal, and an independent “teapot” refinery," OFAC said in a statement.

Those named include Indian nationals Niti Unmesh Bhatt, Piyush Maganlal Javiya, and members of the Kasat family along with Chinese citizen Wenlong Gu and Turkish businessman Aykut Yavruca.

The sanctioned companies are based in Hong Kong, Turkey ,the UAE and the Marshall Islands.

'Degrading Tehran's cash flow'

The measures are part of a broader US campaign to curb Iran’s weapons procurement and financing. Last week, Washington sanctioned 38 alleged Iran-China networks for sourcing missile and helicopter parts.

Treasury Secretary Scott Bessent said the United States will continue blocking Tehran’s “malign objectives.”

“The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine," Bessent added.

In September, the Treasury also sanctioned four Iranians and several UAE- and Hong Kong-based firms accused of laundering hundreds of millions of dollars through oil and cryptocurrency to fund missiles, drones, and Hezbollah.

That same week, the State Department revoked Iran’s Chabahar Port waiver, warning shipping operators of possible penalties.

“The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine,” Treasury Secretary Scott Bessent said.

“Under President Trump, this administration is disrupting the regime’s ability to fund terrorist groups that threaten the United States.”

The latest measures mark the fourth round of sanctions under the US President Donald Trump’s administration targeting China-based refineries that continue to buy Iranian oil, the Treasury said.

The investigation, led by research firm Kharon and backed by a US civil forfeiture case, reveals how the network used intermediaries across Europe, the Middle East and the Americas to conceal its Iranian military end-users.

“With its use of layered intermediaries, third-country brokers and seemingly legitimate front companies in Western Europe, the helicopter-parts network demonstrates the growing sophistication of the illicit supply chains that support sanctioned military programs,” Kharon said.

The US Treasury’s October 1 sanctions followed the UN’s snapback on Iranian restrictions and targeted the Iran-based Pasargad Parvaz Kish Helicopter Company (PHC) and its Germany-based chief executive, Mehdi Shirazi Shayesteh. Treasury said PHC procured aircraft and spare parts for Iran’s state helicopter maker, PANHA, using a “transnational procurement network.”

Corporate filings show that PHC’s ownership ties extend into the investment arm of the sanctioned Pasargad Bank, embedding it within Iran’s restricted financial system.

According to a civil forfeiture complaint reviewed by Kharon, Shayesteh and his Iran-based partner, Amirhossein Salimi—the head of Uruguay’s Perfect Day SA—set up a joint venture in Portugal in 2021 called Business United Unipessoal LDA. Their first deal was the acquisition of a US-origin helicopter, which was routed through the network and eventually sold to PHC.

A US link in the chain

Among the entities linked to the operation was Cobra International, a Union City, New Jersey–based supplier that advertises itself as serving “civilian and military markets.” Between 2021 and 2023, Business United carried out several transactions with Cobra, including a $209,000 purchase of a used helicopter engine that US authorities later seized.

Kharon’s review found Cobra’s business connections also reached companies tied to Russia’s defense sector.

Court filings identified Dubai-based Indian broker Krishnamurthy Shekar as a key facilitator who sought helicopter engines from Cobra in 2023 on behalf of Business United. He maintains professional links to several aviation suppliers in the UAE and India.

In Europe, Swedish national Ramtin Emami directed two companies—Nordic Air and Heli Invest AB—that received US-origin parts from Cobra and re-exported them to Iran. Business United requested that the shipments be routed through Sweden before their final delivery to PHC, according to Kharon’s findings.

The case underscores the growing complexity of Iran’s defense procurement networks, which rely on Western intermediaries, layered brokers and front companies to mask their military objectives.

The Commerce Department included two subsidiaries of US-based chip distributor Arrow Electronics Inc. on its so-called entity list for allegedly facilitating purchases of American technology by Iran-linked groups. It is unusual for units of a US-listed company to appear on the blacklist.

Arrow spokesperson John Hourigan said the subsidiaries in China and Hong Kong “have been operating in full compliance with US export control regulations” and the company was discussing the matter with the Commerce Department’s Bureau of Industry and Security (BIS).

In all, BIS added 26 entities and three addresses to the list of firms that US vendors cannot sell to without government approval. US suppliers should presume requests will be denied on national security grounds, the agency said.

Some of the new listings stemmed from wreckage of drones recovered by Persian Gulf states and Israel, which investigators found contained US-origin components routed through the sanctioned firms. BIS said parts recovered from Hamas drones used in the October 7, 2023 attack on Israel also traced back to some of the companies.

Part of wider campaign

The action is the latest in a series of measures aimed at constraining Iran’s weapons programs and its use of front companies abroad. Earlier this month, the Treasury Department imposed sanctions on 38 people and entities from Iran and China accused of advancing Tehran’s procurement of surface-to-air missiles and US-made helicopter parts. Treasury Secretary Scott Bessent said Washington would “deny the regime weapons it would use to further its malign objectives.”

Those sanctions were also tied to the reimposition of United Nations measures on Iran under the “snapback” mechanism triggered by Britain, France and Germany in late September. The restored restrictions cover Iran’s nuclear, missile and arms programs, along with embargoes, travel bans and asset freezes.

Targeting financial networks

The US has also sought to cut off the flow of money to Iran’s armed forces and aligned groups. In September, the Treasury sanctioned four Iranian nationals and more than a dozen companies in the UAE and Hong Kong accused of moving hundreds of millions of dollars through oil sales and cryptocurrency transactions. Officials said the networks helped finance ballistic missile and drone programs, as well as groups such as Hezbollah.

The same week, the State Department revoked a sanctions waiver for Iran’s Chabahar Port that had been in place since 2018 to support reconstruction efforts in Afghanistan, warning that firms operating there could face penalties.