U.S. Targets Oil Network Linked To Shamkhani’s Son

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced on Wednesday, April 15, that it has imposed sanctions on an oil smuggling network linked to Mohammad Hossein Shamkhani, the son of Ali Shamkhani, a senior official of the Islamic Republic who was killed.

U.S. Treasury Secretary Scott Bessent said the move is part of Operation “Economic Fury” against the Islamic Republic, an effort aimed at targeting individuals close to Iran’s leadership, including members of the Shamkhani family. He added that these individuals “seek to profit at the expense of the Iranian people.”

The Treasury Department also said that, in coordination with the Homeland Security Investigations (HSI) agency, it has sanctioned Badruddin Mousavi, an Iranian national described as a Hezbollah financier, along with three companies tied to a complex money laundering network.

According to the department, the network facilitated the sale of Iranian oil in exchange for Venezuelan gold, with proceeds ultimately benefiting Hezbollah and the IRGC’s Quds Force.

The U.S. Treasury Secretary stressed: “Under the leadership of Donald Trump, the Treasury Department will continue to confront illegal smuggling networks and Iranian proxies.”

He also warned financial institutions that the U.S. Treasury will use all available tools, including secondary sanctions, against those supporting Tehran’s activities.