US Targets Wellbred Capital with Sanctions Over Iran Connections
By Editor • August 25, 2026 • 1 min read
The U.S. government has imposed sanctions on Wellbred Capital, a Singapore-based oil trading firm, along with its subsidiaries in the UAE and Switzerland. The sanctions are a part of broader efforts to disrupt Iran's financial networks.
According to the U.S. Treasury's Office of Foreign Assets Control (OFAC), Wellbred has ties to Mohammad Hossein Shamkhani, an Iranian oil shipping figure. The Treasury stated that Shamkhani established Wellbred to operate outside of Iran's business network, though he remains responsible for its operations.
In addition to Wellbred Capital, the sanctions extend to Wellbred Trading FZCO in Dubai, Wellbred Trading SA in Geneva, and La Nivernaise de Raffinage SAS, a French biofuels refinery. Wellbred's global operations include trading oil, naphtha, and liquefied petroleum gas, with offices spanning several countries.
This action follows prior sanctions against Shamkhani and his extensive shipping empire, which transports oil and petroleum products globally, generating substantial profits.
Source: www.thehindu.com
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