US sanctions crackdown on Iran's Shamkhani oil network

The U.S. Treasury, via OFAC, announced its largest sanctions package since 2018, freezing the assets of more than 50 individuals, companies and vessels linked to the oil‑export network run by the family of former Iranian security chief Ali Shamkhani. The primary target is Mohammad Hossein Shamkhani, who oversees front firms such as House of Shipping Investment FZCO and Taylor Shipping FZCO that move Iranian crude, mainly to buyers in China. The Department of Justice filed civil forfeiture complaints on 6 March 2026 for about $15.3 million in allegedly evaded funds, and a second wave of sanctions on 15 April 2026 added further individuals and a related gold‑smuggling scheme tied to Hezbollah.

The sanctions also cover roughly ten newly identified vessels and a similar number previously sanctioned, as well as persons holding Dominica passports, residents of Dubai, and a Danish citizen and an Italian national. Treasury Secretary Scott Bessent said the measures close the financial infrastructure that enables Tehran to threaten U.S. national security. The network is reported to have links to the Russian “ghost fleet” vessel Tagor, seized by the French navy in the Atlantic. No cryptocurrency involvement was found. Companies and financial institutions with exposure to Chinese buyers of Iranian oil could face secondary‑sanctions risk, prompting increased compliance monitoring across trade‑finance and vessel‑tracking services.