Bank-e Shahr

Bank-e Shahr is the Iranian bank the US Treasury named on 7 August 2026 as the target of a front company, Farab Soroush Afagh Qeshm Company, designated the same day for holding and moving its funds.

The designation sits inside a wider 35-entity action Treasury announced the same day, which it says targets a shadow-banking web funnelling proceeds from Iran's sanctioned crude and commodity trade back to the National Iranian Oil Company, the Revolutionary Guard and the country's armed forces command.

The action builds on an earlier OFAC designation of Bank-e Shahr's rahbar networks in January 2026, so the 7 August round extends an already-sanctioned chain rather than opening a new one; the bank itself was not named as a fresh designee, only its front company was. The underlying Federal Register notice gazettes every party as a scanned image, so Treasury's own release remains the sole readable source describing the bank's role.