US Treasury Unveils Major Sanctions on Iranian Shipping Empire
In its most expansive sanctions package against Iran in nearly seven years, the US Treasury has imposed sweeping measures on over 100 individuals, companies, and vessels linked to Iranian maritime and sanctions-evasion network. The action, unveiled Wednesday, is aimed at dismantling what the US calls a “shipping empire” at the heart of Iran’s illicit oil trade.
At the centre of the newly sanctioned web is Mohammad Hossein Shamkhani, son of Ali Shamkhani, a senior adviser to Iran’s Supreme Leader Ayatollah Ali Khamenei. According to the treasury, Hossein Shamkhani orchestrates a global network of front companies and shadow fleets used to ship oil, petroleum products, and containerised goods from Iran and Russia to clients across Asia, Europe, and beyond.
52 vessels—including oil tankers and containerships—have been blacklisted for operating under front companies tied to the Shamkhani family. 15 shipping firms, 12 individuals, and 53 entities in 17 countries, including Panama, Italy, and Hong Kong, were named in the crackdown. The US Department of State also designated an additional 20 entities and 10 vessels for facilitating the Iranian petroleum and petrochemicals trade.
“The Shamkhani family’s shipping empire highlights how the Iranian regime elites leverage their positions to accrue massive wealth and fund the regime’s dangerous behaviour,” treasury secretary Scott Bessent said.