US EditionUS hits Iranian shipping network with major new sanctions
UNITED STATES, JUL 31 – The sanctions block over 115 individuals, entities, and 50 vessels involved in a global oil trade network generating tens of billions of dollars for Iran's regime, U.S. Treasury said.
- On Wednesday, the U.S. Department of the Treasury and OFAC sanctioned over 115 entities linked to Mohammad Hossein Shamkhani’s network, marking the most significant Iran-related sanctions since 2018.
- The Shamkhani network’s growth drove illicit oil revenues, enabling global sales of Iranian and Russian crude mostly to China, generating tens of billions for Iran’s regime.
- Numbers released indicate the U.S. Department of State targeted 15 shipping firms, 52 vessels, 12 individuals, and 53 entities in sweeping Iran sanctions.
- As a result, Shamkhani’s U.S. assets will be frozen and he is banned from dollar transactions, while U.S. persons are prohibited from dealing with the designated parties.
- Looking ahead, U.S. officials said they will continue actions to bring Iranian oil exports from 1.2 million barrels per day down further.
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92 Articles
Trump Just Ignored His Own Deadline and Hit Iran With Massive Sanctions
Key Points and Summary – The Trump administration has imposed sweeping new sanctions against Iran’s oil industry, weeks ahead of a diplomatic deadline set by Secretary of State Marco Rubio. Announced on July 30, the sanctions target a “corrupt regime-linked shipping empire” allegedly controlled by the son of a top political advisor. The Treasury Department stated this network funnels billions to Tehran and launders proceeds from both Iranian and…
The Iranian government expressed Thursday its firm rejection of the recent sanctions imposed by the United States, calling them illegal and an act of aggression against its people. READ ALSO Iran demands urgent international action to stop the genocide in Gaza Iran's Foreign Ministry spokesman, Esmail Baqai, accused Washington of gravely violating the principles of international law and human rights.The new restrictive measures, announced on Wed…
The US sanctions target 50 people as well as 50 vessels alleged to belong to the commercial fleet of the son of a senior official of the Islamic Republic. The U.S. Treasury's Foreign Assets Control Office (OFAC) states in a press release that these are its most important Iran-related sanctions since 2018.
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