US Treasury widens sanctions on Shamkhani shipping network

The US Treasury's Office of Foreign Assets Control designated more than 50 individuals, entities and vessels linked to the shipping network of Mohammad Hossein Shamkhani. Treasury says the network moves Iranian oil and Russian petroleum products, runs container shipping and supplies Yemen's Houthis, with companies spread across the UAE, Singapore, Hong Kong, the Marshall Islands and elsewhere. Twenty vessels were listed, including Caspian Sea ships. Treasury Secretary Scott Bessent called the network one of the Iranian government's "most profitable engines". Treasury said more than 200 targets tied to the network have now been sanctioned across several actions.

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