The US government has expanded sanctions targeting the shipping and oil trading network linked to Mohammad-Hossein Shamkhani, son of Ali Shamkhani, the former Secretary of the Supreme National Security Council who was killed on the first day of the 40-Day War, and has subjected five additional sectors of the Iranian economy, including digital assets, gold, and shipping, to secondary sanctions.
The US Department of the Treasury announced on Monday, August 24, that the Office of Foreign Assets Control (OFAC) designated nearly 60 individuals, companies, and vessels associated with the Islamic Republic.
This sanctions package targets networks involved in procuring components for missile and nuclear programs, cyber operations, and Iranian oil transport. Washington states that revenues from these networks fund the Islamic Revolutionary Guard Corps (IRGC) and other state entities.
A portion of the new sanctions targets entities tied to Mohammad-Hossein Shamkhani, whom the US Treasury identifies as a primary operator of Iran's oil export and sales network.
Singapore-based Wellbred Capital and its subsidiaries in the United Arab Emirates, Switzerland, and France were placed on the SDN list. The conglomerate trades in crude oil, naphtha, liquefied petroleum gas (LPG), and petrochemical products.
