The US Treasury just dropped a hammer on the financial empire run by the family of former Iranian security official Ali Shamkhani. The Office of Foreign Assets Control (OFAC) rolled out its largest sanctions package since 2018, targeting more than 50 individuals and entities, along with over 50 vessels connected to a sprawling network designed to funnel illicit oil revenues back to Tehran.
The primary target is Mohammad Hossein Shamkhani, son of Ali Shamkhani, who served as a senior advisor to Iran’s Supreme Leader before his death in February 2026. Ali Shamkhani himself was sanctioned by the US back in 2020.
How the network operates
The operation relies on front companies, frequent vessel reflagging, falsified documents, and shell companies to mask the origins and destinations of Iranian crude oil shipments. Companies like House of Shipping Investment FZCO and Taylor Shipping FZCO sit at the center of the web, reportedly controlling a significant portion of Iran’s crude oil exports. The buyers, according to investigators, are primarily based in China.
The Department of Justice filed civil forfeiture complaints on March 6, 2026, against $15.3 million in funds allegedly used for sanctions evasion by the Shamkhani network.
