Washington, April 16 (SANA) The U.S. Treasury Department said on Wednesday it was strengthening sanctions on Iran’s oil sector, targeting 20 individuals and entities linked to the network of oil trader Mohammad Hossein Shamkhani, amid restrictions by Tehran on shipping through the Strait of Hormuz.
According to AFP, U.S. Treasury Secretary Scott Bessent said in a statement: “Treasury is moving aggressively with ‘Economic Fury’ by targeting regime elites like the Shamkhani family that attempt to profit at the expense of the Iranian people.”
Mohammad Hossein Shamkhani is the son of Ali Shamkhani, a former adviser to Iran’s Supreme Leader Ali Khamenei and a senior security official. Both men were reported killed on February 28, the first day of the current regional conflict.
In a separate statement, the U.S. State Department said: “The United States is acting to decisively limit Iran’s ability to generate revenue as it attempts to hold the Strait of Hormuz hostage.”
U.S. officials have previously said that the Shamkhani network, along with affiliated companies managing its fleet, has facilitated sanctions evasion activities.
Iran imposed restrictions on maritime traffic in the Strait of Hormuz following the outbreak of hostilities on February 28, according to U.S. officials. Meanwhile, the United States has maintained a naval presence near Iranian ports since Monday.
On Tuesday, the Treasury Department said it would not renew a temporary sanctions waiver that had allowed the sale of Iranian oil cargoes already at sea. The waiver, established last month, aimed to ease upward pressure on global oil prices following escalating regional tensions.
Iran has said it effectively closed the Strait of Hormuz, a key chokepoint for global oil and gas shipments, in response to what it described as a U.S.-Israeli military campaign.
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