Economic Fury Targets Illicit Oil Smuggling Network Run by Iranian Regime Elite

Action Also Targets Hizballah Gold Scheme Benefitting Iran’s MilitaryWASHINGTON—Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) intensified pressure on Iran’s illicit oil transportation infrastructure by sanctioning more than two dozen individuals, companies, and vessels operating within the network of Iranian oil shipping magnate Mohammad Hossein Shamkhani (Shamkhani), the son of now-deceased senior Iranian security official Ali Shamkhani. “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.