US hits Iranian shipping network with major new sanctions
WASHINGTON - The U.S. Treasury Department announced fresh sanctions on Wednesday on over 115 Iran-linked individuals, entities and vessels, in a sign the Trump administration is doubling down on its "maximum pressure" campaign after bombing Tehran's key nuclear sites in June.
The sanctions broadly target the shipping interests of Mohammad Hossein Shamkhani, the son of Ali Shamkhani, who is himself an adviser to Supreme Leader Supreme Leader Ayatollah Ali Khamenei. The U.S. Treasury described the move as the most significant Iran-related sanctions action since 2018, during President Donald Trump's first administration.
According to Treasury, Shamkhani controls a vast network of container ships and tankers through a complex web of intermediaries that sell Iranian and Russian oil and other goods throughout the world. Treasury accused Shamkhani of using personal connections and corruption in Tehran to generate tens of billions of dollars in profits, much of which is used to prop up the Iranian regime.
Overall, the new sanctions target 15 shipping firms, 52 vessels, 12 individuals and 53 entities involved in sanctions evasion in 17 countries, ranging from Panama to Italy to Hong Kong. A U.S. official said the new move should not disrupt global oil markets as it was tailored to hit specific bad actors.
The European Union sanctioned Shamkhani earlier in July, citing his role in the Russian oil trade.
A U.S. official said that Wednesday's action would impact both Russia and Iran, but the action was focused on Iran.
"From our perspective, given where this individual fits, given his connection to the Supreme Leader and his father's previous sanctions activities, given the Iran-related authorities, it's critically important to emphasize that this is an Iran action that is meaningful and very impactful," the official said.
Ali Shamkhani, Mohammad Hossein Shamkhani's father, was sanctioned by the United States in 2020. REUTERS
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