The U.S. Treasury Department has announced its most sweeping sanctions against Iran in seven years, targeting prominent oil trader Hossein Shamkhani, son of a senior advisor to Supreme Leader Ayatollah Ali Khamenei.
The sanctions affect Shamkhani and several companies linked to him, including Dubai-based Milavous Group Ltd., Ocean Leonid Investments Ltd., and Crios Shipping. The move aims to restrict Iran’s oil exports, a key source of revenue for the regime.
Treasury Secretary Scott Bessent said the sanctions were directed at “the regime’s elite who profit while Tehran endangers U.S. security.” Deputy Secretary Michael Faulkender added that the Trump administration seeks to curb Iran’s nuclear program, halt its ballistic missile development, and end support for terrorist groups.
Officials noted that the sanctions are unlikely to disrupt global oil markets, as most of the crude managed by Shamkhani’s network is exported to China.
In June, the U.S. conducted strikes on Iranian nuclear facilities in Fordow, Isfahan, and Natanz, entering a direct confrontation with Iran amid tensions with Israel. Iran retaliated by targeting the U.S. Al-Udeid military base in Qatar.
U.S. officials continue to demand an end to Iran’s uranium enrichment. Iranian Foreign Minister Abbas Araghchi recently said that Tehran may resume nuclear talks—but only if Washington engages based on mutual respect and shared interests.
