Amin Exchange
Iran-based currency exchange designated by OFAC sb0502 for routing IRGC oil revenues through multi-jurisdiction shells.
Last refreshed: 21 May 2026
How does an exchange house with a former IRGC officer as CEO move hundreds of millions for sanctioned Iranian banks?
Timeline for Amin Exchange
OFAC sb0502: 50 entities, 19 vessels, no refinery
Iran Conflict 2026- What is Amin Exchange and why was it sanctioned by the US?
- Amin Exchange is an Iranian foreign currency exchange house designated by OFAC on 19 May 2026 for routing hundreds of millions of dollars in IRGC-linked oil revenues through UAE, Turkey, and Hong Kong Shell companies on behalf of sanctioned Iranian banks.Source: US Treasury OFAC sb0502
- Who owns and runs Amin Exchange?
- Amin Exchange is owned by Yousef Ebrahimi, who holds Turkish, Iranian, and Dominican nationality. Its CEO is Samad Nemati, a former IRGC officer, and its board includes Turkey-based Ali Hazrati Chakherlo.Source: US Treasury OFAC sb0502
- How does Amin Exchange move Iranian oil money past sanctions?
- Amin Exchange used front companies registered in the UAE, Turkey, and Hong Kong to conduct transactions on behalf of sanctioned Iranian banks and petrochemical exporters, bypassing formal dollar-clearing restrictions.Source: US Treasury OFAC sb0502
- Is Amin Exchange on the US SDN blacklist?
- Yes. OFAC added Amin Exchange to the Specially Designated Nationals list on 19 May 2026 under Economic Fury action sb0502, blocking all US-person transactions and correspondent-bank dollar access.Source: OFAC SDN list
Background
Amin Exchange was designated on 19 May 2026 under OFAC action sb0502 as part of the Trump administration's Economic Fury campaign. The exchange oversaw hundreds of millions of dollars in transactions on behalf of sanctioned Iranian banks, routing proceeds from IRGC-linked oil sales through a web of front companies in the UAE, Turkey, and Hong Kong.
Amin Exchange's formal registered name is Ebrahimi and Associates Partnership Company. Its owner, Yousef Ebrahimi, holds Turkish, Iranian, and Dominican nationality. The chief executive, Samad Nemati, is a former IRGC officer. Board member Ali Hazrati Chakherlo operates from Turkey. The exchange collaborated directly with the National Iranian Oil Company, the Persian Gulf Petrochemical Industry Commercial Company, and Triliance Petrochemical Co. Ltd., all previously sanctioned entities.
The designation sits within the broader sb0502 package, which also targeted 19 vessels and dozens of Shell entities linked to Hengli Petrochemical's dollar-clearing arrangements. The PGSA tariff standoff that followed sb0502 reflects the same pattern: IRGC-linked financial networks use exchange houses like Amin to preserve dollar access when formal banking channels are closed.
