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US Imposes Sweeping New Sanctions On Iranian Shipping Network
What Treasury officials called a "vast network" used to sell Iranian & Russian oil operated by front companies, intermediaries…
The network, they said, generated tens of billions of dollars used to support the Iranian government.
"These profits have helped prop up the Iranian regime," the Treasury stated, accusing Shamkhani of leveraging corruption and personal connections in Tehran to evade existing restrictions.
In total, the action designates 15 shipping firms, 52 vessels, 12 individuals, and 53 entities involved in sanctions evasion, with operations spanning 17 countries, including Panama, Italy, Hong Kong, the UAE, and the UK.
A US official said the measure was "tailored" to avoid disrupting global oil markets while striking specific targets.
"From our perspective, given where this individual fits, given his connection to the supreme leader and his father's previous sanctions activities, given the Iran-related authorities, it's critically important to emphasize that this is an Iran action that is meaningful and very impactful," the official said.
The EU sanctioned Shamkhani earlier in July for his role in the Russian oil trade, and his father, Ali Shamkhani, was sanctioned by the US in 2020.
https://www.zerohedge.com/energy/us-imposes-sweeping-new-sanctions-iranian-shipping-network