US imposes sanctions on 'Wilberid' for oil trade due to ties with Iran

The United States imposed sanctions on Singapore-based Wilbride Capital and its two trading subsidiaries in the United Arab Emirates and Switzerland, citing ties to Iran, as part of its intensified efforts to target the Islamic Republic’s global financial connections.

The office stated in a statement clarifying the measures targeting nearly 60 companies, individuals, and vessels that “Shamkhani established Wilbride as a company outside the Iranian network’s business operations, but Shamkhani is ultimately responsible for Wilbride’s operations.”

Wilbride did not respond to a request for comment. The sanctions also included Wilbride Trading FZCO, based in Dubai, and Wilbride Trading SA in Geneva, as well as its French biofuel refinery, “La Neuvillerie du Raffinage.”

According to its website, Wilbride, headquartered in Singapore, trades in oil, naphtha, petrochemicals, and liquefied petroleum gas, and has offices in the UAE, Switzerland, Saudi Arabia, and Nigeria.

The Office of Foreign Assets Control had previously listed individuals, entities, and vessels that form part of a massive shipping empire controlled by Shamkhani in July 2025 and April 2026. The office noted that Shamkhani, son of the late senior Iranian security official Ali Shamkhani, operates a large fleet of tankers and container ships.

The office added that this network transports oil and petroleum products from Iran and Russia, along with other shipments, to buyers around the world, generating profits reaching tens of billions of dollars.