US widens sanctions on Shamkhani oil shipping network under Economic Fury

The US Treasury sanctioned more than two dozen individuals, companies and vessels in the network of Iranian oil shipping magnate Mohammad Hossein Shamkhani, son of the late security official Ali Shamkhani. Treasury describes the network as a multi-billion-dollar empire selling Iranian and Russian petroleum, and says the action builds on its July 2025 designations. Secretary Scott Bessent said financial institutions were on notice that secondary sanctions could be used against those supporting Tehran.

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