The United States has announced new sanctions aimed at Iran’s oil sector, intensifying pressure on Tehran amid rising tensions in the Middle East. The latest measures from the Treasury Department focus on oil transport infrastructure and impose restrictions on over two dozen individuals, companies, and vessels associated with Mohammad Hossein Shamkhani, a prominent Iranian petroleum shipping magnate. Treasury Secretary Scott Bessent characterized the action as part of a broader “Economic Fury” campaign targeting regime elites who profit from Iran’s oil revenues.
These sanctions specifically target the Shamkhani network, which the U.S. alleges operates through a complex web of consulting and shipping firms to evade existing restrictions. This move coincides with Iran’s effective closure of the Strait of Hormuz, a vital global oil shipping route, in response to U.S. and Israeli military actions in the region. In retaliation, the United States has implemented a naval blockade of Iranian ports and revoked a temporary waiver that previously allowed the sale of Iranian oil already at sea.
The Treasury Department accuses the Shamkhani network of conducting operations across Iran and the United Arab Emirates to bypass sanctions using seemingly legitimate business entities. Last year, Washington imposed similar restrictions on companies linked to this network. In addition to sanctions targeting the oil sector, the U.S. has also focused on Seyed Naiemaei Badroddin Moosavi, identified as a financier for Hezbollah, along with three companies allegedly involved in a complex money laundering scheme that connects Iranian oil sales to Venezuelan gold.
These latest sanctions highlight Washington’s determination to limit Iran’s oil revenue generation as Tehran continues to threaten maritime security in the Persian Gulf. The measures are part of a broader strategy to exert economic pressure on Iran amid ongoing regional instability.
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