U.S. Expands Sanctions on Iran, Targeting Oil Sector and Freezing $130 Million in Crypto Assets

The U.S. Department of the Treasury announced today an expansion of sanctions against Iran’s oil sector, further targeting the network of oil shipping magnate Mohammad Hossein Shamkhani, and has frozen $130 million (approximately NT$4.2 billion) in assets linked to Iran’s Central Bank and held in digital wallets.

According to an AFP report, the U.S. Treasury stated in a press release: 'This action is part of the Treasury’s ongoing efforts to impose economic pressure on the Iranian regime following Iran’s renewed destabilizing offensive in the Strait of Hormuz.'

The U.S. Treasury accused Shamkhani’s network of remaining a key behind-the-scenes facilitator of Iranian oil exports and expanding into global commodity trading.

The latest sanctions target over 50 individuals, entities, and vessels, which the U.S. government alleges have assisted the Iranian regime in generating illicit revenue.

The Treasury added that it has now imposed sanctions on over 200 individuals, entities, and vessels operating under the Shamkhani network.

Shamkhani’s father, Ali Shamkhani, was a senior Iranian national security official and former advisor to Iran’s Supreme Leader Ali Khamenei. Both Ali Shamkhani and Khamenei were reportedly killed on February 28, the first day of the U.S.-Iran war.

Additionally, U.S. Treasury Secretary Scott Bessent stated that the department has 'sanctioned multiple wallets linked to Iran’s Central Bank, freezing assets worth over $130 million.'

He posted on the social media platform X: 'We will continue to actively trace financial flows and prevent the Iranian regime from accessing illicit proceeds.'

Experts note that digital asset platforms have been used to help circumvent sanctions against Iran’s Islamic Revolutionary Guard Corps (IRGC), and amid soaring inflation, have become a financial safe haven for ordinary citizens. (Compiled by Hong Pei-Ying) 1150715