US Treaasury Sanctions Over 2 Dozen Entities Tied to Iran Oil Shipping Network Amid Ceasefire Talks
The US Department of the Treasury's Office of Foreign Assets Control on Wednesday sanctioned over two dozen entities tied to Iran's oil transportation in a bid to pressure Iran as ceasefire negotiations continue.The measures are part of OFAC's effort to intensify pressure on Iran's alleged "illicit" oil transportation infrastructure, according to a statement.The sanctions target two dozen individuals, companies, and vessels operating within the network of Iranian oil shipping magnate Mohammad Hossein Shamkhani, the son of the late senior Iranian security official Ali Shamkhani, OFAC said."Treasury is moving aggressively with Economic Fury by targeting regime elites like the Shamkhani family that attempt to profit at the expense of the Iranian people," said Secretary of the Treasury Scott Bessent, adding that the Trump administration will continue to crack down on "Iran's illicit smuggling and terror proxy networks."The Treasury further alleged that Shamkhani heads a multi-billion-dollar Iranian and Russian petroleum sales empire.The latest round of sanctions builds on OFAC's July 2025 designation of the Shamkhani network, which the Treasury described as "its largest single action to date since the Trump Administration revived the maximum pressure campaign against Iran."Additionally, OFAC is targeting Iranian national Seyed Naiemaei Badroddin Moosavi, alleging that he smuggled Iranian oil to Venezuela during the Maduro government.