The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions targeting the alleged shipping and sanctions-evasion network of Mohammad Hossein Shamkhani, which U.S. officials say has played a major role in facilitating Iran’s oil exports and expanding into global container shipping and commodities trading. The action designates more than 50 individuals, companies, and vessels, bringing the total number of sanctions imposed on the network to more than 200.
According to the Treasury, the sanctions target financiers, shipping executives, logistics providers, and companies based in several countries, including the United Arab Emirates, Singapore, Hong Kong, India, and the Marshall Islands. The measures also include Sea Lead Shipping and its subsidiaries, along with numerous cargo vessels that US officials allege were used to transport goods and support the network’s operations.
The sanctions were issued under Executive Order 13902, which authorizes measures against key sectors of Iran’s economy. Treasury said all US-based property and interests of the designated individuals and entities are blocked, and US persons are generally prohibited from conducting transactions with them unless authorized by OFAC.
