The US announced new sanctions against a network allegedly financing Iran's oil exports. The Washington administration said it blacklisted over 50 individuals, entities, and vessels that support an illegal maritime shipping and sanctions evasion network allegedly linked to Iranian oil shipping magnate Mohammad Hossein Shamkhani.
In a statement, the US State Department said the sanctions target a maritime shipping network allegedly helping Iran continue its oil exports. "Today, we are sanctioning over 50 individuals, entities, and vessels that enable Shamkhani and the Iranian regime to continue profiting while the Iranian people suffer," the statement said.
The State Department argued that the sanctions evasion network operates through cooperation between Iranian and foreign nationals and companies. "The Shamkhani network relies on cooperation between Iranian and foreign nationals and companies to carry out its sanctions evasion schemes. It also uses overseas shell companies that are critical to the network's ability to trade sanctioned goods and recover the proceeds from that trade," the statement said.
The Washington administration also signaled that economic pressure on Iran will continue. "We will use all tools at our disposal to hold the regime accountable for its actions," the State Department said, stressing that the sanctions aim to limit Iran's oil revenues.