Trump’s Treasury Department unveiled its most sweeping sanctions against Iran-connected entities since 2018 on Wednesday, the same day the State Department announced sanctions connected to the country.
The department’s Office of Foreign Assets Control targeted over 115 people, entities and ships tied to major shipping network controlled by Mohammed Hossein Shamkhani, a press release said. He is son to Ali Shamkhani, one of Iranian Supreme Leader Ayatollah Ali Khamenei senior advisors.
The department accused Shamkhani of corruptly benefiting from his father’s political influence to make billions of dollars, in part from transporting Russian and Iranian petroleum and oil products.
“With today’s sanctions, Treasury has sanctioned over 500 Iranian and Iran-linked targets this year in line with President Trump’s max pressure campaign. We will continue to put America First by targeting regime elites that profit while Tehran threatens the safety of the United States,” U.S. Treasury Secretary Scott Bessent tweeted.
The State Department also sanctioned 20 entities Wednesday for their links to the trade of Iranian crude oil, oil products and petrochemical products, a press release said. Officials also labeled 10 ships blocked property. This effectively means that they must be frozen if in the U.S. or under the control of U.S. citizens, according to the Treasury Department.
Today, @USTreasury is taking its largest action against Iran since 2018. This afternoon, we sanctioned more than 115 individuals, entities, and vessels that make up a vast shipping empire controlled by Mohammad Hossein Shamkhani, son of a top political advisor to the Supreme…
— Treasury Secretary Scott Bessent (@SecScottBessent) July 30, 2025
“Today, the United States is taking decisive action to disrupt the Iranian regime’s ability to fund its destabilizing activities, including its nuclear program, support for terrorist groups, and oppression of its own people,” the State Department declared. (RELATED: Carrot And Stick: Treasury Slaps Iran With New Oil Sanctions As Trump Promises ‘More Hopeful Future’)
The State Department is also targeting several vessel management firms with tankers authorities said participated in illicit shipments and additional deceptive activities. The State Department is also targeting companies in China, India, the United Arab Emirates, Türkiye and Indonesia that have allegedly accepted Iranian oil and petroleum products.
“As President Trump has said, any country or person who chooses to purchase Iranian oil or petrochemicals exposes themselves to the risk of U.S. sanctions and will not be allowed to conduct business with the United States,” the press release stated.
