House of Shipping Investment FZCO

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.