The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced on Apr. 15 new sanctions targeting more than two dozen individuals, companies, and vessels involved in Iran’s illicit oil transportation infrastructure. The action focuses on a network run by Mohammad Hossein Shamkhani, son of the late senior Iranian security official Ali Shamkhani, as well as a Hizballah-financed gold smuggling operation benefitting Iran’s military.
The Treasury said these measures are part of an ongoing effort to disrupt financial networks that support Iran’s regime and its proxies. The sanctions aim to block revenue streams that enrich elite families at the expense of ordinary Iranians and finance activities considered threats to international security.
“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,” said Secretary of the Treasury Scott Bessent. “Under President Trump’s leadership, Treasury will continue to cut off Iran’s illicit smuggling and terror proxy networks. Financial institutions should be on notice that Treasury will leverage all tools and authorities, including secondary sanctions, against those that continue to support Tehran’s terrorist activities.”
According to OFAC, Shamkhani oversees a multi-billion dollar petroleum sales empire involving both Iranian and Russian oil shipments through a complex web of front companies based in countries such as the United Arab Emirates (UAE), India, and the Marshall Islands. The network uses administrative firms like Corplinx Consultancy LLC FZ for disguising operations; shipping companies such as House of Shipping Investment FZCO; supply firms including Shipstar Shipchandling LLC; vessel procurement agents like Meritron DMCC; and several others involved in managing or operating tankers transporting sanctioned commodities.
The joint investigation with Homeland Security Investigations also led to designations against Seyed Naiemaei Badroddin Moosavi—a financier linked with Lebanese Hizballah—and three associated companies implicated in money laundering schemes involving exchanges between Iranian oil exports and Venezuelan gold under former President Nicolas Maduro's regime. These operations reportedly supported both Hizballah activities and Iran's Islamic Revolutionary Guard Corps–Qods Force.
All property belonging to designated persons within U.S. jurisdiction is now blocked, with restrictions extending also to entities majority-owned by sanctioned individuals or groups. OFAC warns that violations may result in civil or criminal penalties for both U.S.-based and foreign actors engaging in prohibited transactions.
