The US imposes fresh sanctions on Iran’s oil sector, targeting over 24 entities linked to a major shipping network amid escalating Middle East tensions.
The United States on Wednesday announced a new wave of sanctions against Iran’s oil sector, intensifying economic pressure as tensions continue to rise in the Middle East. The move comes as Iran maintains its closure of the strategically vital Strait of Hormuz amid the ongoing regional conflict.
According to the US Treasury Department, the latest sanctions focus on Iran’s oil transport infrastructure, targeting more than two dozen individuals, companies, and vessels associated with a major petroleum shipping network. This network is reportedly linked to Mohammad Hossein Shamkhani, a prominent figure in Iran’s energy transport operations.
"Treasury is moving aggressively with 'Economic Fury' by targeting regime elites like the Shamkhani family that attempt to profit at the expense of the Iranian people," US Treasury Secretary Scott Bessent said in a statement, highlighting Washington’s ongoing financial pressure campaign.
Mohammad Hossein Shamkhani is the son of Ali Shamkhani, a senior security official and advisor to Iran’s Supreme Leader Ali Khamenei. Both were reportedly killed on February 28, marking the first day of US-Israeli strikes and the beginning of the current Middle East war.
In a separate statement, the US State Department emphasized its objective to curb Iran’s financial capabilities. "The United States is acting to decisively limit Iran’s ability to generate revenue as it attempts to hold the Strait of Hormuz hostage," it said.
Iran’s closure of the Strait of Hormuz one of the world’s most critical oil transit routes is seen as retaliation against US and Israeli military actions. The disruption has significantly impacted global oil supply chains, prompting concerns over energy security and rising prices. In response, the United States has reportedly initiated a naval blockade targeting Iranian ports.
Earlier this week, the Treasury Department also confirmed it would not extend a temporary sanctions waiver that had allowed the sale of Iranian oil already in transit. The waiver had been introduced to stabilize global oil markets following sharp price increases triggered by the conflict.
US officials allege that the Shamkhani network operates across Iran and the United Arab Emirates, using a web of seemingly legitimate consulting firms and shipping companies to bypass sanctions. These entities are believed to facilitate the movement of oil through covert channels, helping Iran sustain its energy exports despite restrictions.
In addition to targeting the Shamkhani network, the Treasury Department announced sanctions against Seyed Naiemaei Badroddin Moosavi, identified as a financier for the Iran-backed militant group Hezbollah. Authorities also imposed restrictions on three companies allegedly involved in a complex money-laundering operation exchanging Iranian oil for Venezuelan gold.
The latest measures underscore Washington’s continued efforts to isolate Iran economically while disrupting financial networks tied to its energy exports and regional influence.
Source : Gulf News
Image Source : Al jazeera
