U.S. Treasury expands sanctions on Shamkhani’s shipping network, targeting 50+ individuals, entities and vessels involved in Iran’s illicit oil trade and sanctions evasion activities

OFAC sanctioned more than 50 individuals, entities and vessels linked to the network of Mohammad Hossein Shamkhani, which Treasury says moves Iranian oil, commodities and shipping revenue through a global web of intermediaries. The designations target exchange services, shell companies, shipping firms, foreign currency channels and procurement links used to move proceeds from sanctioned trade and obscure…