US expands sanctions targeting Iran oil, cryptocurrency sectors
Treasury said the move targets more than 50 people, companies and vessels and blocks $130 million in wallets tied to Iran’s central bank.
- On Tuesday, the Treasury Department imposed sanctions on more than 50 individuals, entities, and vessels linked to Iranian oil shipping magnate Mohammad Hossein Shamkhani, targeting his alleged illicit shipping and sanctions evasion network.
- As the son of Ali Khamenei's advisor Ali Shamkhani, Shamkhani operates a patronage network that has now faced over 200 sanctions from Washington, including shipping firms and financial facilitators.
- Treasury Secretary Scott Bessent announced the department 'sanctioned multiple wallets tied to the Central Bank,' resulting in the freeze of over $130 million to disrupt financial infrastructure.
- State Department spokesperson Tommy Pigott stated the measures aim to break apart Shamkhani's 'illicit shipping and sanctions evasion network,' which Washington claims has funded Iranian offensives against merchant vessels in the Strait.
- These measures represent a broader campaign to increase economic pressure on Tehran following what the Treasury described as 'destabilizing attacks' in the Strait, where Iran has recently targeted shipping vessels.
25 Articles
25 Articles
US expands sanctions targeting Iran oil, cryptocurrency sectors
Treasury Secretary Scott Bessent said the department had also frozen $130 million held in digital wallets linked to Iran's central bank, hitting a sector that has seen increased activity since the start of the war. The move came after US forces carried out a fourth straight day of strikes against Iran and reimposed a naval blockade, with Iran in turn hitting ships in the Strait of Hormuz, according to the International Maritime Organization. Ira…
US Tightens Economic Pressure on Iran, Sanctions over 50 Targets over Oil Exports
Get latest articles and stories on World at LatestLY. The US has sanctioned over 50 individuals, companies, and vessels linked to an illicit Iranian oil shipping network run by tycoon Mohammad Hossein Shamkhani. The measures aim to dismantle Tehran's "illicit shipping and sanctions evasion network" following renewed attacks on commercial vessels in the Strait of Hormuz. World News | US Tightens Economic Pressure on Iran, Sanctions over 50 Target…
US tightens economic pressure on Iran, sanctions over 50 targets over oil exports - The Tribune
The US has sanctioned over 50 individuals, companies, and vessels linked to an illicit Iranian oil shipping network run by tycoon Mohammad Hossein Shamkhani. The measures aim to dismantle Tehran's 'illicit shipping and sanctions evasion network' following renewed attacks on commercial vessels in the Strait of Hormuz.
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