US Treasury hits Iranian shipping network with major new sanctions
The sanctions broadly target the shipping interests of Mohammad Hossein Shamkhani, the son of Ali Shamkhani, who is himself an adviser to Supreme Leader Ayatollah Ali Khamenei.
The US Treasury described the move as the most significant
Iran -related sanctions action since 2018, during US President
Donald Trump's first administration.
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 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.
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