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.
31 Articles
31 Articles
Treasury Implements More Sanctions Against Mohammad Hossein Shamkhani, Key Man in Iran’s Oil Exports
The U.S. announced new sanctions against Iran’s oil sector at a time of escalation of the war in the Middle East. Specifically, the Treasury Department reported that this new sanctions package was applied, among others, to Iran’s oil tycoon Mohammad Hossein Shamkhani, who was frozen at $130 million that he has deposited in digital purses linked to Iran’s central bank. The prosecution maintains that the Shamkhani network remains a key force behin…
The United States increased economic pressure on Iran on Tuesday (14) by imposing a new round of sanctions against Mohammad Hossein Shamkhani, a businessman identified by Washington as one of the main operators of the so-called Iranian "ghost fleet". According to the US Treasury Department, the US-led network is responsible for trading sanctioned oil from Iran and Russia, guaranteeing billions of dollars in revenue for both countries.
Treasury Sanctions Iran-Linked Shipping Network
The U.S. Treasury Department imposed sanctions on more than 50 individuals, companies, and vessels linked to Iranian oil trader Mohammad Hossein Shamkhani on July 14, saying the network helped Iran evade international sanctions and generate billions of dollars in oil revenue. Treasury officials said the action is one of the largest sanctions packages aimed at Iran’s shipping sector in recent years and is designed to disrupt the financial and log…
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…
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