Treasury Cracks Down on Shamkhani Network, Exposing Billions in Illicit Oil Profits
The U.S. Treasury Department unleashed its most significant Iran-related sanctions since 2018, targeting Mohammad Hossein Shamkhani’s vast shipping network, which has funneled billions in illicit oil profits to Tehran’s elite.
The Office of Foreign Assets Control (OFAC) designated over 50 individuals and entities, including 50+ vessels, linked to Shamkhani, son of Ali Shamkhani, a top advisor to Iran’s Supreme Leader.
Operating through UAE-based front companies like Marvise SMC DMCC, the network smuggles Iranian and Russian oil to global buyers, primarily China, using aliases and falsified documents to evade detection.
These sanctions, under Executive Order 13902, aim to disrupt funds fueling Iran’s destabilizing actions.
Treasury Secretary Scott Bessent called it a move to prioritize U.S. security, exposing how regime insiders exploit corruption for personal gain, including foreign passports and luxury properties.
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