The United States announced on Wednesday it is tightening sanctions against Iran’s oil industry as Tehran keeps up its closure of the Strait of Hormuz as part of the Mideast war.
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.