U.S. sanctions massive Iranian oil shipping network

UPI

2 days ago

The Treasury under Secretary Scott Bessent on Wednesday issued dozens of sanctions targeting a massive Iranian shipping network. Photo by Yuri Gripas/UPI | License Photo
July 31 (UPI) -- The United States on Wednesday sanctioned dozens of individuals, entities and vessels accused of being an Iranian oil and petroleum shipping network, as the Trump administration continues with its so-called maximum pressure campaign targeting Tehran.
The 50 people and entities and 50 vessels blacklisted by the U.S. Treasury, along with 20 entities and 10 vessels sanctioned by the State Department on Wednesday, represent the largest punitive package against Iran since 2018, when President Donald Trump first imposed mass sanctions against Iran during his first term.
In 2018, Trump pulled the United States from a landmark multinational Obama-era accord aimed at preventing Tehran from securing a nuclear weapon, and slapped sanctions on the country as part of his maximum pressure campaign that failed to bring Iran to the negotiating table on a new deal.
Instead, Iran escalated its nuclear program to the point that the State Department remarked in 2022 that it would need as little as a week to produce enough weapons-grade highly enriched uranium for a nuclear weapon.
Trump reinstated his maximum pressure campaign on Iran in February and has been targeting its ability to generate revenue since. He also attacked three Iranian nuclear sites last month, amid Israel's war against Iran-backed Hamas in Gaza.
The sanctions unveiled Wednesday target the vast shipping network of 49-year-old Mohammad Hossein Shamkhani that the United States accuses of laundering billions in profit from the sales of Iranian and Russian crude oil and other petroleum products to buyers mostly in China.
Hossein is the son of Ali Shamkhani, a top political advisor to Iranian leader Ayatollah Khamenei, and who was sanctioned by the United States in 2020.
"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 behavior," Treasury Secretary Scott Bessent said in a statement.
"These actions put America first by targeting regime elites that profit while Tehran threatens the safety of the United States."
Bessent added on X that with Wednesday's sanctions, the United States has sanctioned more than 500 Iranian and Iran-linked targets this year.
The announcement of sanctions comes a day after Iran's foreign minister, Seyed Abbas Araghchi, threatened to retaliate against any new threats to its nuclear program.
"If aggression is repeated, we will not hesitate to react in a more decisive manner and in a way that will be IMPOSSIBLE to cover up," he said on X on Monday.
Trump claimed his strikes "obliterated" Iran's nuclear program, while others have questioned the severity of the damage.