US hits Iranian shipping network with major new sanctions
The US Treasury Department announced fresh sanctions on over 115 Iran-linked individuals, entities, and vessels on Wednesday, in a sign that 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 Ali Khamenei. The US Treasury described the move as the most significant Iran-related sanctions action since 2018, during President Donald Trump's first administration.
Shamkhani's shipping network
According to the US 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. The Treasury Department 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.
This is a developing story.
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