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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73 Articles
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US intensifies pressure on Iran with new sanctions
The US imposed fresh sanctions on people and organizations linked to Iran, intensifying its pressure on Tehran. The measures largely target the “shipping empire” of the son of an ally of the Iranian leader: The Treasury Department said the network is part of the shadow fleet carrying sanctioned oil from Russia and Iran to buyers worldwide, especially China. Iran responded angrily, with Foreign Minister Abbas Araghchi rejecting “threat and intimi…
U.S. Steps Up Sanctions on Chinese Imports of Iranian Oil
The U.S. has sanctioned a fourth oil import terminal in China for receiving Iranian oil cargoes as the State Department expanded sanctions against entities involved in trade with Iran. The U.S. Department of State designated a fourth China-based crude oil and petroleum products terminal, Zhoushan Jinrun Petroleum Transfer Co Ltd, as it “has a demonstrated pattern of accepting Iranian crude oil and petroleum products, including from U.S.-designat…
The US imposes new sanctions on Iran.
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