Mansour ZARRINGHALAM

Iran; Saint Kitts and Nevis

1963-03-22

Damghan, Iran

Male

Tehran, Iran; Dubai, United Arab Emirates

R0052384, Passport; 4579852826, National ID No.; Y53912417, Passport

Business

Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating over 30 individuals and entities tied to Iranian brothers Mansour, Nasser, and Fazlolah Zarringhalam, who have collectively laundered billions of dollars through the international financial system via Iranian exchange houses and foreign front companies under their control as part of Iran’s “shadow banking” network. Mansour Zarringhalam (Mansour) and Nasser Zarringhalam (Nasser) operate Iran-based exchange houses Mansour Zarrin Ghalam and Partners Company (also known as GCM Exchange), and Nasser Zarrin Ghalam and Partners Company (also known as Berelian Exchange), respectively, through which they oversee a sprawling network of front companies, largely operating out of the UAE and Hong Kong. Mansour and Nasser, through GCM Exchange and Berelian Exchange, have played a particularly significant role laundering money for Persian Gulf Petrochemical Industry Company (PGPIC), Iran’s largest petrochemical conglomerate, and its marketing arm Persian Gulf Petrochemical Industry Commercial Co. (PGPICC), both designated in 2019. According to some estimates, Mansour annually managed billions of dollars’ worth of currency transactions related to the sale of PGPIC petrochemical products, with the express consent of senior Iranian security officials. Mansour Zarringhalam, Nasser Zarringhalam, Fazlolah Zarringhalam, Mansour Zarrin Ghalam and Partners Company, Nasser Zarrin Ghalam and Partners Company, and Zarrin Ghalam and Partners Company are being designated pursuant to E.O. 13902 for operating in the financial sector of the Iranian economy.

US

Subject to Secondary Sanctions

https://home.treasury.gov/news/press-releases/sb0159

2025-06-06

US

Executive Order 13902 of January 10, 2020 Imposing Sanctions With Respect to Additional Sectors of Iran

OFAC country specific

Iran

Blocking Property, Suspending Entry, Trade sanctions

• https://ofac.treasury.gov/faqs/topic/1551

E.O. 13902 imposes sanctions with respect to any person determined by the Secretary of the Treasury, in consultation with the Secretary of State, to operate in the construction, mining, manufacturing, and textiles sectors of the Iranian economy, and any additional sectors of the Iranian economy as may be determined by the Secretary of the Treasury, in consultation with the Secretary of State. On October 8, 2020, the Secretary of the Treasury identified the financial sector of the Iranian economy for additional sanctions under E.O. 13902. Iranian and non-Iranian persons operating in these sectors could be subject to sanctions pursuant to E.O. 13902.

SDN