Treasury Takes Massive Action Against High-Profile Iranian Network

Biggest Iran-related sanctions package since 2018 targets corrupt regime-linked shipping empire that has funneled billions to TehranWASHINGTON — Today, in its largest Iran-related action since 2018, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating more than 50 individuals and entities and identifying more than 50 vessels that are part of the vast shipping empire controlled by Mohammad Hossein Shamkhani (Hossein). Hossein—the son of Ali Shamkhani, a top political advisor to the Supreme Leader of Iran—leverages corruption through his father’s political influence at the highest levels of the Iranian regime to build and operate a massive fleet of tankers and containerships. This network transports oil and petroleum products from Iran and Russia, as well as other cargo, to buyers around the world, generating tens of billions of dollars in profit.