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OfficialDiplomacy & politicsBackgroundWashington, United States

U.S. sanctions Shamkhani family oil network and threatens buyers of Iranian crude

Mountain Time
Local time
2:41 PM in New York
Where
Washington, United States

OFAC sanctioned more than two dozen people, companies and vessels in an oil-shipping network run by Mohammad Hossein Shamkhani, son of the late security official Ali Shamkhani, plus a Hezbollah financier and firms tied to an Iran-Venezuela oil-for-gold scheme. Treasury Secretary Scott Bessent said countries buying Iranian oil or holding Iranian money now faced secondary sanctions, the “financial equivalent” of the bombing campaign.

Why it matters

The threat aimed at China, which had bought more than 80% of Iran’s shipped oil and which Bessent said would likely pause purchases, and at banks handling Iranian funds.

Sources (4)

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