Epicenter of Iran Port Blast Linked to Khamenei-Linked Charity
A massive explosion that devastated the Shahid Rajaei port near Bandar Abbas in southern Iran has now been linked to a powerful charitable foundation with direct ties to Iran's Supreme Leader Ayatollah Ali Khamenei. The blast, which killed at least 70 people and injured over 1,000 others, occurred at a facility operated by Sina Port and Marine Services, a company affiliated with Bonyad Mostazafan—a bonyad or charitable trust directly overseen by Khamenei’s office and under U.S. sanctions.
Despite the Iranian government’s silence on the precise cause of the explosion, satellite imagery and emerging reports point toward a highly volatile chemical cargo being stored unsafely at the site. Experts now believe the explosive material may have been ammonium perchlorate or a similar compound used in ballistic missile fuel—raising fresh concerns about Iran’s weapons program and sanctions-busting efforts.
Bonyad Mostazafan, often translated as the “Foundation of the Oppressed,” is one of Iran’s most powerful economic entities. Originally created after the 1979 Islamic Revolution to manage seized assets and support Iran’s poor, the foundation has grown into a financial juggernaut. It controls vast holdings across industries including shipping, mining, energy, and infrastructure. According to a 2008 U.S. Congressional Research Service report, Bonyad Mostazafan once accounted for nearly 10% of Iran’s GDP.
The U.S. Treasury sanctioned the foundation in 2020, accusing it of acting as a slush fund for the Supreme Leader and aiding the Islamic Revolutionary Guard Corps (IRGC). “Bonyad Mostazafan operates outside of government oversight and has become a key financial engine for regime elites,” the Treasury said at the time. Many of its senior figures, including its current president Hossein Dehghan, are former IRGC commanders or government officials with close ties to the security apparatus.
The explosion, which occurred Saturday, appears to have originated near the terminal operated by Sina Port and Marine Services. The blast obliterated the facility and surrounding containers. Saeed Jafari, the CEO of Sina, later confirmed that the cargo involved had been dangerously mislabeled and delivered without appropriate documentation or hazard tags.
Chemistry experts and arms control analysts have weighed in, noting that the magnitude of the blast and the appearance of reddish smoke clouds point to a nitrate-based explosion. “That reddish cloud is characteristic of nitrogen dioxide, often produced when ammonium nitrate or ammonium perchlorate burns,” said Andrea Sella, professor of chemistry at University College London. “It’s nuts that such a material was stored in a crowded port zone.”
The parallels with the 2020 Beirut port disaster and earlier explosions in Texas and Nevada—each involving improperly stored explosive chemicals—are striking. All resulted from institutional negligence, compounded by secrecy and lack of oversight, often with devastating consequences for nearby populations.
Speculation about what exactly was stored at Shahid Rajaei gained traction after recent sanctions imposed by the U.S. Treasury on Chinese and Iranian firms for transshipping chemicals like sodium perchlorate and dioctyl sebacate to Iran. Sodium perchlorate is used in making ammonium perchlorate, a key solid propellant for missiles. U.S. intelligence suggests at least one of the chemical shipments tracked recently arrived at Shahid Rajaei port.
Despite mounting evidence, Iranian authorities have offered little transparency. A spokesperson for Iran’s Defense Ministry has denied any connection to missile fuel or arms components, while a government spokesperson described the blast as “probably” the result of human error. The port area remains sealed off, and independent investigations have not been allowed.
The secrecy surrounding the port, the foundation’s role, and the materials involved has further fueled suspicions that this incident is tied to Iran’s clandestine military and industrial supply chain. Given the long-standing sanctions regime and the regime’s history of evading restrictions, the storage of missile fuel components in civilian infrastructure is deeply troubling.
Iran’s bonyads, especially Mostazafan, play an unusual role in the state apparatus—operating outside conventional oversight, enjoying tax exemptions, and holding immense financial and political clout. Critics argue that these institutions, rather than serving the public good, have become tools for elite enrichment and repression.
This latest explosion underscores not only the dangers of unregulated chemical storage but also the geopolitical risks embedded in Iran’s opaque military-industrial network. If the cause of the blast is indeed linked to missile fuel, the incident could have international repercussions. Not only does it expose Iran’s vulnerabilities, but it also highlights the dangers of allowing entities under severe sanctions to continue operating unchecked.
The United States and its allies will likely see this as further justification for tightening sanctions and increasing scrutiny of Iran’s ports and bonyad-controlled businesses. Iran, on the other hand, may push back against accusations while maintaining its long-standing narrative of Western economic warfare.
As investigations slowly move forward—if they do at all—what remains clear is the immense cost of secrecy and corruption. A facility linked to one of the wealthiest organizations in the country, under direct control of its most powerful leader, has become the epicenter of a national tragedy. And still, no one in Iran has taken responsibility for what detonated with such destructive force.
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