US sanctions Iran oil-shipping network

The U.S. Treasury Department announced new sanctions on Tuesday targeting a vast Iranian oil-shipping and sanctions-evasion network. This action impacts over 50 individuals, companies, and vessels, bringing the total entities and ships linked to Mohammad Hossein Shamkhani's patronage to more than 200. U.S. Treasury Secretary Scott Bessent stated, "Treasury is shutting down the financial infrastructure that allows the regime to continue its threats to U.S. national security and global shipping." The network utilizes financiers, shipping firms, and shell companies across multiple countries to transport Iranian oil and goods, with some parts also facilitating shipments to the Iran-backed Houthi terrorist group in Yemen.