The U.S. Treasury today announced what it called its most extensive Iran-related sanctions action since 2018, targeting a global shipping and financial network that U.S. officials allege has funneled billions of dollars to the Iranian government.
The action, carried out by the Office of Foreign Assets Control (OFAC) in coordination with the State Department, designates over 50 individuals and entities and identifies more than 50 vessels tied to a network overseen by Mohammad Hossein Shamkhani, son of senior Iranian political advisor Ali Shamkhani.
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