US slaps new sanctions on Iranian shipping network

The US Treasury Department has announced fresh sanctions on over 115 Iran-linked individuals, entities and vessels, in a sign the Trump administration is doubling down on its maximum pressure campaign after bombing Tehran’s key nuclear sites in June. The sanctions broadly target the shipping interests of Mohammad Hossein Shamkhani, the son of Ali Shamkhani, who is himself an advisor to Supreme Leader Ayatollah Ali Khamenei, it is learnt. The Treasury said it was the most significant Iran-related sanctions action since 2018, during President Donald Trump’s first administration. According to the Treasury, Shamkhani controls a vast network of container ships and tankers through a complex web of intermediaries that sell Iranian and Russian oil and other goods throughout the world. Overall, the new sanctions target 15 shipping firms, 52 vessels, 12 individuals and 53 entities involved in sanctions evasion in 17 countries, ranging from Panama to Italy to Hong Kong, as per a report.

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