By SUNTV Global Channel News Desk
Wednesday, July 15, 2026
The United States has imposed a fresh wave of sanctions on an extensive Iranian shipping network, targeting more than 50 individuals, companies and vessels accused of facilitating illicit oil exports and helping Tehran evade international sanctions.
The measures, announced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), are aimed at dismantling a global network allegedly controlled by Mohammad Hossein Shamkhani. U.S. authorities claim the network has generated billions of dollars in oil revenue for Iran despite existing international restrictions.
According to the U.S. government, the latest sanctions are intended to disrupt Iran’s financial and maritime operations while limiting its ability to finance activities Washington considers destabilising to regional and global security.
The announcement comes amid heightened tensions between the United States and Iran following renewed hostilities in the Strait of Hormuz, one of the world’s most strategically significant oil transit routes.
U.S. Treasury Secretary Scott Bessent said the sanctions are designed to dismantle the financial and logistical infrastructure that enables Iran to circumvent international restrictions and sustain its oil trade.
The sanctions affect individuals and organisations operating across several countries, including the United Arab Emirates, Singapore, India, Hong Kong, Russia, Denmark, Italy, the Marshall Islands, the British Virgin Islands and St. Kitts and Nevis. Authorities allege that members of the network provided financial services, shipping logistics and vessel management to facilitate the transportation of sanctioned Iranian oil.
Several shipping companies, logistics firms, vessel operators and cargo vessels have also been designated as part of the enforcement action.
The sanctions were imposed under Executive Order 13902 and form part of President Donald Trump’s broader policy of increasing economic pressure on Iran following renewed regional tensions.
Under the new measures, all assets belonging to the designated individuals and entities within U.S. jurisdiction are frozen, while American citizens and businesses are prohibited from engaging in transactions with those sanctioned unless specifically authorised by OFAC.
The U.S. Treasury further warned that foreign financial institutions and companies that continue to conduct significant business with sanctioned persons or entities could face secondary sanctions and additional legal consequences.
The latest action represents one of Washington’s most significant crackdowns on Iran’s international shipping and oil export network, reflecting continued efforts to curb Tehran’s oil revenues and disrupt its global sanctions-evasion activities.
