US Treasury hits Shamkhani oil and shipping network with sweeping sanctions; over 50 individuals, firms and vessels

On Tuesday, July 14, 2026, the US Treasury imposed fresh sanctions on a network tied to Iranian oil trader Mohammad Hossein Shamkhani, adding more than 50 individuals, companies and vessels to its blacklist. Treasury said the number of designated people and entities in the network has now passed 200, calling it one of its largest sanctions packages targeting Iran's oil-shipping sector in recent years.

According to Treasury, the network used shell companies and foreign passports to conceal sales of sanctioned Iranian oil. Treasury Secretary Scott Bessent also said the department froze $130 million held in digital wallets linked to Iran's central bank. The move followed the collapse of an interim truce between Tehran and Washington and the resumption of the naval blockade of Iranian ports.