US targets Iran’s oil transportation infrastructure with sanctions

The U.S. Treasury Department said on Wednesday it was targeting Iran’s oil transportation infrastructure by imposing sanctions on more than two dozen individuals, companies, and vessels.

The sanctions target a network of Iranian oil shipping magnate Mohammad Hossein Shamkhani, the Treasury Department said in a statement. Hossein Shamkhani is the son of Ali Shamkhani, a key figure in Iran’s security and nuclear policymaking who was killed in U.S.-Israeli strikes on Tehran on February 28.

“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,” Treasury Secretary Scott Bessent said in the statement.

The Treasury Department is also sanctioning Iranian national Seyed Naiemaei Badroddin Moosavi, who it alleges to be a financier to Hezbollah, and three companies linked to a money laundering scheme involving the sale of Iranian oil in exchange for Venezuelan gold.