Treasury Expands Sanctions on Shamkhani Oil Shipping Empire

OFAC imposed sanctions on more than 50 individuals, entities, and vessels tied to Hossein Shamkhani's shipping network, including operational chief Ali Rakhbarmadani, an Iranian-Russian dual national accused of coordinating shipments and encouraging Russian partners to circumvent the G7 oil price cap. The network transports Iranian and Russian oil and petroleum products to global buyers, generating tens of billions of dollars in profit, and has now had more than 200 individuals, entities, and vessels sanctioned across actions dating to July 2025. The move builds on Treasury's ongoing economic pressure campaign following Iran's renewed attacks on shipping in the Strait of Hormuz.