*Slaps More Sanctions
*Chokes Billionaire Oil Mogul, Shamkhani, Allegedly Involved In Smuggling
The United States (US) has announced it is tightening sanctions against Iran’s oil industry as naval blockade of the Persian Gulf nation’s ports persisted.
The new punishment targets oil transport infrastructure by slapping sanctions on more than two dozen people, companies and ships that operate within the network of petroleum shipping magnate Mohammad Hossein Shamkhani, the Treasury Department said.
“Treasury is moving aggressively with ’Economic Fury’ by targeting regime elites like the Shamkhani family that attempt to profit at the expense of the Iranian people,” US Treasury Secretary Scott Bessent said in a statement, alluding to a financial pressure campaign against Iran.
The report from Agence France-Presse also said Shamkhani is the son of security official Ali Shamkhani, an Advisor to former Iranian Supreme Leader Ali Khamenei – both of whom were killed on 28 February at the start of war triggered by US-Israeli attacks on Iran.
According to Wikipedia, Hossein Shamkhani’s “Dubai-based company, Milavous Group Ltd., is accused of illegally generating billions of dollars by selling Iranian and Russian crude globally.
“The Shamkhani network can be considered one of the three largest oil traders in Iran.
“He and his brother own real estate in Dubai under aliases in Caribbean passports.”
Yesterday too, the US State Department said in a separate communique: “The United States is acting to decisively limit Iran’s ability to generate revenue as it attempts to hold the Strait of Hormuz hostage.”
On Tuesday, the Treasury Department said it would not extend a temporary sanctions waiver that allowed the sale of Iranian oil already at sea. This had been an attempt to ease pressure on oil prices that shot up because of the war.
…Warns Buyers Of Iranian Oil Could Be Sanctioned
Additionally, the US threatened to sanction buyers of Iranian oil and said it believes China will pause such purchases as Washington enforces its maritime blockade on Iran.
“We have told countries that if you are buying Iranian oil, that if Iranian money is sitting in your banks, we are now willing to apply secondary sanctions,” Bessent told reporters at the White House on Wednesday.
Before the US maritime blockade on Iran began on Monday, China bought more than 80% of Iran’s shipped oil. Bessent said: “We believe [that with] this blockade … there will be a pause of Chinese buying.”
The US Treasury had written to two Chinese banks and “told them that if we can prove that there is Iranian money flowing through your accounts, then we are willing to put on secondary sanctions”, Bessent said.
*PHOTO CAPTION: Hossein Shamkhani.
