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On July 14, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated more than 50 individuals, entities, and vessels connected to Mohammad Hossein Shamkhani's illicit shipping and sanctions evasion network. This action represents an intensification of Treasury's efforts to disrupt Iran's oil export operations and global containerized shipping activities, following resumed Iranian destabilizing attacks in the Strait of Hormuz. Treasury Secretary Scott Bessent said, "The Iranian regime survives on deception, and the Shamkhani network is one of its most profitable engines. Treasury is shutting down the financial infrastructure that allows the regime to continue its threats to U.S. national security and global shipping." Today's action builds on OFAC's previous designations in April 2026 and July 2025, bringing the total number of sanctioned individuals, entities, and vessels operating under Shamkhani's patronage to more than 200. The designations target key financial and logistics associates, including Iranian nationals Hossein Ghorbani Zahed and Mohammad Reza Rahbar Madani, who provide exchange house services and access to foreign currency; Iranian-Russian dual national Ali Rakhbarmadani, who operated as the network's head of shipping; and Western executives Martin Austin Kaalund and Alessandra Ronco, who served as chief financial officer and chief executive of sanctioned House of Shipping Investment FZCO. OFAC also sanctioned containerized shipping firms Sea Lead Shipping and associated entities, multiple vessel owners and operators, and companies facilitating illicit trade blending licit and illicit goods destined for Iran and Iran-backed entities including Ansarallah in Yemen. The designations are issued pursuant to Executive Order 13902, which authorizes sanctions on key sectors of Iran's economy. All property and interests in property of designated persons within the United States or controlled by U.S. persons are blocked. Violations may result in civil or criminal penalties. Individuals providing information about sanctions violations to Treasury's Financial Crimes Enforcement Network (FinCEN) Whistleblower Incentive Program may be eligible for awards if enforcement actions result in monetary penalties exceeding $1,000,000.

On July 14, 2026, the US Office of Foreign Assets Control (OFAC) announced sanctions against more than 50 individuals, entities and vessels linked to an illicit Iranian shipping and sanctions evasion network headed by Mohammad Hossein Shamkhani, which serves as a major financial engine for the Iranian government and military. According to OFAC, Shamkhani's network is heavily involved in Iran's illicit oil exports, global containerized shipping and commodities trading. The sanctioned targets play a crucial role in providing exchange house services, managing shell companies and coordinating global shipping logistics, often utilizing international corporate structures and deceptive trade practices to evade price caps and sanctions. As a result of the new sanctions, all US-based property and interests of the targets are blocked, and US individuals and entities are generally prohibited from engaging in transactions with them, unless expressly authorized by OFAC. Concurrently, OFAC issued Iran-related General License Z , which authorizes limited, temporary wind-down activities, environmental safety transactions and the offloading of cargo involving the newly blocked targets.

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U.S. Department of the Treasury Sanctions More Than 50 Individuals and Entities in Shamkhani Shipping Network

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US Office of Foreign Assets Control Sanctions Illicit Iranian Shipping Network