Washington Cuts Off an Iraqi Bank and Iran's Exchange Houses, and Names a Havana Bank for Serving Tehran
On 15 October 2026 the United States designated 27 parties in one package. Under Executive Order 13902 OFAC named 16 individuals and 10 entities in Iran's shadow banking and oil revenue network: Baghdad's International Development Bank for Investment and Finance, which Treasury says gives Iran US dollar access; two Iranian offshore banks tied to Bank Mellat and Bank Shahr; Dubai-based oil trustee Sayyed Ruhollah Razavi and two of his companies; seven foreign exchange staff of Shahr Bank affiliate FSAQ and its Hong Kong conduit; and four exchange houses with their owners. The State Department designated Cuba's Banco Internacional de Comercio under E.O. 14404 for serving the sanctioned Karafarin Bank. Secondary sanctions apply to the Iran designations, General License FF allows a wind-down with the Iraqi bank to 30 October, and foreign banks have until 14 November to exit BICSA. Separately, the UN 1267 Committee amended three entries, including the leadership of Tehrik-e Taliban Pakistan.
This issue
- New designations
- 27
- Removals
- 0
- Entries amended
- 3
- Sources monitored
- 97
The Dollar Door in Baghdad Closes
On 15 October 2026, under Executive Order 13902, OFAC added 26 parties to the SDN List and the State Department added a 27th under E.O. 14404. Treasury says the International Development Bank for Investment and Finance in Baghdad was set up by Iranian companies, took over the capital of a closed Bank Melli branch, abused the now-dissolved dollar wire auction and sends its profits back to Iran in dollars each month. Also named are Jazireh International Bank and Chabahar International Bank Overseas, offshore arms of Bank Mellat and Bank Shahr; Sayyed Ruhollah Razavi, a Dubai-based oil trustee, and two of his companies; seven foreign exchange staff of Shahr Bank affiliate FSAQ and its Hong Kong conduit Elitesphere Trading; and four exchange houses in Tehran, Qom and Qeshm with eight owners, among them Sadegh Bavi, whom Treasury calls an IRGC-Qods Force money launderer.
In Havana, Banco Internacional de Comercio (BICSA, SWIFT BIDCCUHH) is designated for operating in Cuba's financial sector; Treasury says it has served the designated Karafarin Bank since at least 2022. Every Iran designation carries secondary sanctions risk for foreign banks. General License FF allows the wind-down of dealings with the Iraqi bank until 30 October, and FAQ 1276 gives foreign banks until 14 November to exit BICSA. None of the 27 names appears on the UK, EU, Swiss, Canadian or Australian lists.
Party detail
Every row below was read against the issuing authority's own notice, not against a press report. Aliases are reproduced in full, including non Latin script forms, because the alias field is where a screening run usually fails. Identifiers are published sanctions data.
| Party | Action and instrument | Identifiers | Grounds |
|---|---|---|---|
| International Development Bank for Investment and Finance | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Identifier: SWIFT/BIC IDBQIQBAIdentifier: LEI 2549001T72VRU0W37E62Identifier: established 11 Jan 2011Identifier: website https://www.idb.iqAddress: Arasat Ave, Karada, Baghdad, Iraq; Karrada, Hay Babil Dist. 929, Arasat Ave., St No. 21, Building 1, Baghdad 10069, Iraq | Baghdad bank (IDB) that, per Treasury, gives Iran US dollar access: set up by Iranian companies, it took over the capital of the closed Bank Melli branch next door, abused the now-dissolved US dollar wire auction and sends its profits back to Iran in dollars each month; its owners received it from an IRGC-Qods Force financier. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Jazireh International Bank Company | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | National ID: 14010665053 (Iran)Registration number: 14485 (Iran)Identifier: established 03 Jan 2022Address: Ground Floor, NBO-9, No. 0, Andisheh Boulevard, Sanai Boulevard, Bank Complex, Kish District, Bandar-e Lengeh County, Kish, Hormozgan 7941773662, Iran; Kish, Hormozgan, Iran | Iranian 'offshore' bank in the Kish free trade zone affiliated with Bank Mellat, authorised by the Central Bank of Iran and the Supreme National Security Council to operate in foreign currency to aid sanctions evasion, per Treasury. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Chabahar International Bank Overseas Company | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | National ID: 14010705831 (Iran)Registration number: 4060 (Iran)Identifier: established 17 Jan 2022Address: Unit 173, Second Floor, Booth 303, Salehyar Complex, No. 0, Vahdat Street, Imam Khomeini Boulevard, Free Zone Neighborhood, Central District, Chabahar Country, Chabahar City, Sistan and Baluchestan Province 9971768361, Iran | Iranian 'offshore' bank in the Chabahar free zone affiliated with Bank Shahr, authorised to operate in foreign currency to aid sanctions evasion, per Treasury. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Sayyed Ruhollah Razavi | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 19 Sep 1981Place of birth: Qom, IranNationality: Iranian, Dominican, TurkishNational ID: 0381818969 (Iran)Address: Iran; Dubai, United Arab Emirates | Dubai-based Iranian oil trustee and son-in-law of the Paydari Front leader; per Treasury he shipped millions of barrels a month for NIOC and Naftiran Intertrade before the US blockade, worked with Hizballah financier Seyed Naiemaei Badroddin Moosavi, and moved the revenue through Hong Kong, the UAE and Türkiye as gold and cash. Designated under E.O. 13902 for operating in the petroleum sector of the Iranian economy |
| Tejarat Gostar Atlas Parsian Kish Company | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | National ID: 14004757110 (Iran)Identifier: established 24 Feb 2015Address: Unit 208, Second Floor, Plot EX20, Sepehr Building, Eghtesad Square, Iran Boulevard, Kish Industrial Phase 2, Kish, Hormozgan 7941658112, Iran | Kish Island company managed by Sayyed Ruhollah Razavi, per Treasury. Designated under E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Sayyed Ruhollah Razavi |
| Farzanegan Energy Pars Company | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | National ID: 14005314445 (Iran)Identifier: established 26 Oct 2015Address: North Unit, First Floor, No. 14, Shahid Davoud Jahanbaksh Nejad Street, Farmanieh, Tajrish, Tehran 1957944813, Iran | Tehran company managed by Sayyed Ruhollah Razavi that is developing the Farzanegan Gas Condensate Refinery in Bushehr Province, per Treasury. Not the same as Farzanegan Propulsion Systems Design Bureau (SDN 50150, Russia programme). Designated under E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Sayyed Ruhollah Razavi |
| Elitesphere Trading Co., Limited | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Business registration number: 76961842 (Hong Kong)Identifier: established 20 Aug 2024Address: Rm 9042, 9/F, Block B, Chung Mei Centre, 15-17 Hong Yip Street, Kwun Tong, Hong Kong, China; Unit 11, 9/F, The Cloud, No. 111 Tuang Chau Street, Tai Koktsui, Kowloon, Hong Kong, China | Hong Kong company used by FSAQ to move funds through its rahbar network of brokers and front companies, per Treasury. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Zhila Mohammadi | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 28 Jun 1991Place of birth: IranNationality: IranianNational ID: 5660004288 (Iran)Address: Iran | Foreign exchange operator at Farab Soroush Afagh Qeshm Company (FSAQ), the Shahr Bank affiliate that, per Treasury, processes payments for Iran's leading oil sellers through a rahbar network of shell companies in Hong Kong and the UAE. Designated under E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, FSAQ |
| Milad Katebi | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 31 Dec 1989Place of birth: Tehran, IranNationality: IranianNational ID: 0011436913 (Iran)Address: Iran | Foreign exchange operator at Farab Soroush Afagh Qeshm Company (FSAQ), the Shahr Bank affiliate that, per Treasury, processes payments for Iran's leading oil sellers through a rahbar network of shell companies in Hong Kong and the UAE. Designated under E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, FSAQ |
| Amir Sabeti | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 30 Aug 1981Place of birth: Shemiran, IranNationality: IranianNational ID: 0451397711 (Iran)Address: Iran | Foreign exchange operator at Farab Soroush Afagh Qeshm Company (FSAQ), the Shahr Bank affiliate that, per Treasury, processes payments for Iran's leading oil sellers through a rahbar network of shell companies in Hong Kong and the UAE. Designated under E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, FSAQ |
| Nazanin Borji | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 10 Jun 1996Place of birth: Tehran, IranNationality: IranianNational ID: 0019123337 (Iran)Address: Iran | Foreign exchange operator at Farab Soroush Afagh Qeshm Company (FSAQ), the Shahr Bank affiliate that, per Treasury, processes payments for Iran's leading oil sellers through a rahbar network of shell companies in Hong Kong and the UAE. Designated under E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, FSAQ |
| Fatemeh Vasighi Meraji | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 21 Aug 1987Place of birth: Qom, IranNationality: IranianNational ID: 0386128804 (Iran)Address: Iran | Foreign exchange operator at Farab Soroush Afagh Qeshm Company (FSAQ), the Shahr Bank affiliate that, per Treasury, processes payments for Iran's leading oil sellers through a rahbar network of shell companies in Hong Kong and the UAE. Designated under E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, FSAQ |
| Azadeh Abdolalipur | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 11 Sep 1988Place of birth: Shiraz, IranNationality: IranianNational ID: 2300151421 (Iran)Address: Iran | Foreign exchange operator at Farab Soroush Afagh Qeshm Company (FSAQ), the Shahr Bank affiliate that, per Treasury, processes payments for Iran's leading oil sellers through a rahbar network of shell companies in Hong Kong and the UAE. Designated under E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, FSAQ |
| Farzad Allahyar | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 12 Aug 2001Place of birth: Tehran, IranNationality: IranianNational ID: 0024557455 (Iran)Address: Iran | Foreign exchange operator at Farab Soroush Afagh Qeshm Company (FSAQ), the Shahr Bank affiliate that, per Treasury, processes payments for Iran's leading oil sellers through a rahbar network of shell companies in Hong Kong and the UAE. Designated under E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, FSAQ |
| Seyyed Abbas Hosseini Parsa and Partners Qeshm General Partnership Company | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | National ID: 14005927381 (Iran)Registration number: 5549 (Iran)Identifier: established 14 Jun 2016Address: Unit 2078, Ground Floor, Atta, Ferdowsi Qeshm Commercial Complex Passage, No. 0, Vali Asr Boulevard, Main Street, Sina Desert, Central District, Qeshm, Hormozgan 7951919639, Iran | Qeshm exchange house (Hosseini Parsa Exchange) that assists the rahbar activity of sanctioned Iranian banks; per Treasury, the designated Bavi General Trading has used its official documents and letterhead. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Seyyed Abbas Hosseini Parsa | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 15 Jul 1956Place of birth: Tehran, IranNationality: IranianNational ID: 0083131019 (Iran)Address: Iran | Owner and operator of Hosseini Parsa Exchange, per Treasury. Designated under E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, Hosseini Parsa Exchange |
| Khaled Mohiesnejad | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 21 Sep 1982Place of birth: Ahvaz, IranNationality: IranianNational ID: 1754430317 (Iran)Address: Iran | Owner and operator of Hosseini Parsa Exchange, per Treasury. Designated under E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, Hosseini Parsa Exchange |
| Sadegh Bavi | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 21 Mar 1964Place of birth: Ahvaz, IranNationality: Iranian, DominicanPassport: N97128850 (Iran), expires 11 May 2027Passport (alternative): RA045652 (Dominica), expires 26 Sep 2032Address: Dubai, United Arab Emirates | Dubai-based Iranian and Dominican national described by Treasury as an IRGC-Qods Force facilitator and money launderer who helps with weapons purchases; owner and general manager of the previously designated Bavi General Trading Company LLC and owner of Bavi and Partners Exchange. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Bavi and Partners Exchange Company | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | National ID: 14013961908 (Iran)Registration number: 641804 (Iran)Identifier: established 18 Nov 2024Address: Unit 3, Floor 2, No. 114, Karim Khan Zand Boulevard, Mahshahr Street, Iranshahr, Tehran 1584773815, Iran | Tehran currency exchange house owned and operated by Sadegh Bavi, per Treasury. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Soheil and Sorush Najafzadeh and Partners Company | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | National ID: 14004832696 (Iran)Registration number: 470601 (Iran)Identifier: established 07 Apr 2015Address: Ground Floor, No. 149, Sarv Sharghi Boulevard, Majd Street, Saadat Abad, Tehran, Central District, Tehran 1998644341, Iran | Tehran exchange house (Najafzadeh Exchange) that, per Treasury, has processed hundreds of millions of dollars of transactions for Iranian banks, including entities linked to Bank Mellat and its rahbar Tejarat Sarir Afrooz Kish. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Sorush Najafzadeh | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 27 Aug 1982Place of birth: Tehran, IranNationality: IranianNational ID: 0069940177 (Iran)Address: Iran | Owner and operator of Najafzadeh Exchange, per Treasury. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Soheil Najafzadeh | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 12 Apr 1976Place of birth: Tehran, IranNationality: IranianNational ID: 0069004250 (Iran)Address: Iran | Owner and operator of Najafzadeh Exchange, per Treasury. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Mansureh Mirmohammadi | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 13 May 1982Place of birth: Golpayegan, IranNationality: IranianNational ID: 1219437239 (Iran)Address: Iran | Owner and operator of Najafzadeh Exchange, per Treasury. Designated under E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, Najafzadeh Exchange |
| Abolhasan Jalali and Partners Exchange Company | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | National ID: 14005814280 (Iran)Registration number: 14150 (Iran)Identifier: established 04 May 2016Address: Ground Floor, Salarieh Commercial Complex, No. 0, Mohammad Amin Boulevard, Iran Marinos Street, Salarieh, Qom, Central District, Qom Province 3716975454, Iran | Qom exchange house (Jalali Exchange) that, per Treasury, has facilitated tens of millions of dollars of payments for Iran's shadow banking networks and sanctioned rahbar entities. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Abolhasan Jalali | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 01 Sep 1966Place of birth: Maragheh, IranNationality: IranianNational ID: 1550929674 (Iran)Address: Iran | Owner and operator of Jalali Exchange, per Treasury. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Ensiyeh Mullah Mohammadi | DesignationExecutive Order 13902 (financial and petroleum sectors of Iran); SDN tag [IRAN-EO13902] | Date of birth: 18 May 1976Place of birth: Qom, IranNationality: IranianNational ID: 0381750760 (Iran)Address: Iran | Owner and operator of Jalali Exchange, per Treasury. Designated under E.O. 13902 for operating in the financial sector of the Iranian economy |
| Banco Internacional de Comercio S.A. | DesignationExecutive Order 14404 (Cuba), section 2(a)(i)(A); SDN tag [CUBA-EO14404] | Identifier: SWIFT/BIC BIDCCUHHIdentifier: Entity Code 60290 (Cuba)Identifier: established 23 Oct 1993Address: Oficina 506, Edificio Santa Clara, Centro de Negocios Miramar, Calle 3 entre 76 y 78, Miramar, Playa, Havana, Cuba | Havana state-owned bank (BICSA) that, per Treasury, has provided services to the designated Iranian Karafarin Bank since at least 2022. Designated by the Department of State under section 2(a)(i)(A) of E.O. 14404 for operating in the financial services sector of the Cuban economy |
| Mounir El Motassadeq | AmendmentUN Security Council resolutions 1267 (1999), 1989 (2011) and 2253 (2015); measures under paragraph 1 of resolution 2734 (2024) | Date of birth: 3 Apr 1974Place of birth: Marrakesh, MoroccoNationality: MoroccanPassport: H 236483 (Morocco)National ID: E-491591 (Morocco)Address: Marrakesh, Morocco | Moroccan national convicted in Germany in 2007 as an accessory to murder and a member of a terrorist organisation and sentenced to 15 years; listed by the UN in September 2002. On 15 October 2026 the Committee replaced his address, 'in prison in Germany', with Marrakesh, Morocco, recorded his deportation from Germany to Morocco in October 2018 and noted that a photo is available for the INTERPOL-UN Special Notice. The sanctions do not change |
| Noor Wali Mehsud | AmendmentUN Security Council resolutions 1267 (1999), 1989 (2011) and 2253 (2015); measures under paragraph 1 of resolution 2734 (2024) | Date of birth: 26 Jun 1978Place of birth: Gurguray, PakistanNationality: PakistaniAddress: Lamman, District Barmal, Paktika Province, Afghanistan (as of 26 Nov 2022) | Leader of Tehrik-e Taliban Pakistan since the death of Maulana Fazlullah; listed by the UN in July 2020. On 15 October 2026 the Committee added the amendment date and noted that a photo is available for the INTERPOL-UN Special Notice. His identifiers and the sanctions do not change |
| Tehrik-e Taliban Pakistan (TTP) | AmendmentUN Security Council resolutions 1267 (1999), 1989 (2011) and 2253 (2015); measures under paragraph 1 of resolution 2734 (2024) | Militant group formed in 2007 and based in the tribal areas along the Afghanistan and Pakistan border; listed by the UN in July 2011. On 15 October 2026 the Committee replaced the named leader, Maulana Fazlullah (QDi.352), with Noor Wali Mehsud (QDi.427). The sanctions do not change |
What this means for your organisation
- 01
Load the 27 US designations and re-screen: Add the 16 individuals and 11 entities from 15 October, using the SWIFT codes, LEI and Iranian national ID numbers to confirm matches, and re-screen customers, beneficial owners and payment counterparties.
- 02
Find and exit IDB and BICSA exposure: Check nostro, vostro and trade finance relationships with the Iraq Development Bank (IDBQIQBA) and BICSA (BIDCCUHH); wind down by 30 October and 14 November respectively, paying any amount due into a blocked account.
- 03
Review exchange-house and Gulf trading flows: Iranian exchange houses, Hong Kong trading companies and Dubai intermediaries are the pattern; look for payments involving the four exchange houses, Elitesphere Trading or Razavi's companies, and file a suspicious activity report where warranted.
- 04
Update the three UN entries: Replace the address of QDi.082 (now Marrakesh, Morocco) and the named leader of QDe.132 (now Noor Wali Mehsud); the asset freeze, travel ban and arms embargo continue.
- 05
Separate near-name hits: Farzanegan Propulsion Systems Design Bureau, Amitis Jazireh Kish Ship Management and Astan Quds Razavi are different SDN parties; check identifiers before merging or escalating.
Where this issue came from
The map plots the sources Youverify monitors. The pulsing markers are the three authorities cited in this issue: US-OFAC, US State and UN-SC. Hover any marker to name the sources read there.
Method statement
The US designations are read from OFAC's Recent Actions notice and Treasury press release of 15 October and confirmed by comparing the SDN data files of 15 and 16 October record by record: 27 entries added, none removed or changed. The UN amendments are read word for word from the strikethrough and underline markup in press release SC/16480 and checked against the UN consolidated list generated on 15 October and the UK list file of 16 October. Every designated party was searched by name on the UK, EU, Swiss, Canadian and Australian lists.
Corrections
No corrections issued for this issue. Corrections are published on the issue they affect, dated, with the original text retained.Cite this issue
Vyra from Youverify. "Washington Cuts Off an Iraqi Bank and Iran's Exchange Houses, and Names a Havana Bank for Serving Tehran." Youverify Sanctions Monitor, issue 148, 16 October 2026. https://youverify.co/en/sanctions/2026-10-16. Accessed 16 October 2026.