House of Shipping Investment FZCO
Dubai free-zone shipping company OFAC-designated 15 April 2026 for Iranian oil network.
Last refreshed: 21 April 2026 · Appears in 1 active topic
How did a Dubai free-zone company become a conduit for Iranian oil under US sanctions?
Timeline for House of Shipping Investment FZCO
Designated by OFAC as UAE-based facilitator of Shamkhani oil smuggling
Iran Conflict 2026: OFAC named India three days before IRGC fire- What is House of Shipping Investment FZCO and why was it sanctioned?
- It is a Dubai free-zone company designated by OFAC on 15 April 2026 for its role as an offshore intermediary in the Shamkhani Iranian oil-smuggling network.Source: US Treasury OFAC
- How do UAE free-zone companies help Iran evade oil sanctions?
- Free-zone entities can be registered quickly with lighter scrutiny, allowing networks to create corporate separation between Iranian crude sources and end buyers while maintaining the appearance of legitimate commercial operations.
Background
House of Shipping Investment FZCO is a Dubai-registered free-zone company designated by the US Treasury's OFAC on 15 April 2026 as part of the Shamkhani Iranian oil-smuggling network. Operating as the UAE counterpart to House of Shipping Private Limited of Chennai, it was one of three entities named in a coordinated OFAC action alongside two Indian nationals and nine tankers added to the Specially Designated Nationals list.
UAE free-zone entities — such as those registered in Dubai's Jebel Ali or the various UAE free trade zones — have been a persistent vehicle for sanctions evasion due to lighter regulatory scrutiny and the ease with which international entities can register. The FZCO structure allowed operations spanning India, the UAE, and Iranian oil markets while maintaining a corporate separation from direct Iranian state entities.
The designation reflects OFAC's increasing focus on third-country intermediaries rather than Iranian entities alone. By targeting the UAE node of the network, Treasury aimed to disrupt the logistics chain connecting Iranian crude production to Indian state refiners, reducing Iran's ability to monetise oil exports under the wartime blockade.
