- U.S. sanctions target over 115 Iran-linked individuals, entities, and vessels, marking the most significant action since 2018.
- Measures focus on the shipping network of Mohammad Hossein Shamkhani, linked to Iran’s Supreme Leader, and aim to curb oil exports.
- Iran’s oil exports have already dropped from 1.8 to 1.2 million barrels per day, with further declines expected.
- The sanctions follow recent U.S. strikes on Iranian nuclear sites, with little prospect for renewed diplomacy.
The U.S. Treasury Department has announced new sanctions against more than 115 individuals, companies, and vessels linked to Iran, marking the most extensive Iran-related action since 2018. The measures primarily target the shipping network of Mohammad Hossein Shamkhani, son of a senior adviser to Iran’s Supreme Leader, and are aimed at curbing the country’s oil trade and related revenue streams. The sanctions span 17 countries and include firms and vessels involved in sanctions evasion, as reported by Reuters.
U.S. Sanctions Drive Further Pressure on Iran’s Oil Exports
U.S. officials stated that Iran’s oil exports have fallen to about 1.2 million barrels per day, down from 1.8 million barrels per day earlier this year, following several rounds of sanctions targeting the country’s oil sector. The administration aims to reduce this further, recalling that similar measures during President Trump’s first term cut exports to just a few hundred thousand barrels per day.
Iran’s foreign ministry condemned the sanctions, describing them as a hostile act designed to damage the country’s economic progress and the well-being of its citizens. China remains the largest buyer of Iranian oil, while the European Union recently sanctioned Mohammad Hossein Shamkhani over his involvement in the Russian oil trade.
U.S. officials emphasised that the latest sanctions are primarily focused on Iran, given Shamkhani’s ties to the Supreme Leader and his family’s previous involvement in sanctioned activities. His father, Ali Shamkhani, was sanctioned by the United States in 2020.
The sanctions announcement comes amid strained U.S.–Iran relations following U.S. strikes on Iranian nuclear facilities in June. President Trump has warned that any attempt by Tehran to restart its nuclear program would prompt further U.S. military action. While Washington has expressed willingness for direct talks, both European and Iranian diplomats see little chance of renewed negotiations at present.
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Source: Reuters
