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The U.S. Treasury’s Office of Foreign Assets Control cracked down this week on its efforts to economically pressure the Iranian regime and help loosen its grip over the Strait of Hormuz.
According to the agency, they are shutting down the financial infrastructure of the “illicit shipping and sanctions evasions network of Mohammad Hossein Shamkhani.”
“The Iranian regime survives on deception, and the Shamkhani network is one of its most profitable engines,” said Secretary of the Treasury Scott Bessent in a statement this week.
He continued, “Treasury is shutting down the financial infrastructure that allows the regime to continue its threats to U.S. national security and global shipping.”
According to the Treasury, this week’s action affects more than 50 people, entities, and vessels linked to the Shamkhani network and the Iranian regime. The move additionally builds on previous designation actions, as well as an executive order (13902) that provides the Treasury Secretary with the authority to identify and impose sanctions on Iran, per the agency.
The Treasury’s move this week further intensifies the United States campaign against Iran as violence has once again reignited in the region. Last week, Treasury also moved to revoke a temporary license that would have allowed Iran to sell its oil around the world, per CNBC. The license was revoked after Iran attacked ships in the Strait of Hormuz.
As reported by RSBN, U.S. Navy forces have reinstated a blockade in the Strait of Hormuz against vessels transiting to and from Iranian ports. And, according to the U.S. Central Command, the U.S. has engaged in multiple strikes against the Iranian regime since last week.
On Wednesday morning, CENTCOM announced that it had completed a “morning round of strikes against Iran” that lasted for 90 minutes. The attacks were concentrated against coastal defense systems and missile storage and launch sites along the shipping corridor.
