Washington — The U.S. Treasury Department has announced a new round of sanctions under an operation named “Economic Fury,” targeting financial networks linked to Iran and Hezbollah. The measures were introduced amid continued uncertainty over the potential resumption of talks between the United States and Iran, according to officials.
The Treasury’s Office of Foreign Assets Control (OFAC) said the sanctions are aimed at disrupting alleged financial networks involved in the movement and laundering of funds tied to Iranian oil shipments and gold transactions connected to Venezuela. Officials stated that the actions are intended to weaken what they describe as illicit financial infrastructure supporting designated entities.
As part of the announcement, OFAC said it imposed sanctions on more than two dozen individuals, entities, and vessels linked to a network associated with Mohammad Hossein Shamkhani, identified as an Iranian oil shipping figure and the son of senior Iranian security official Ali Shamkhani. The Treasury noted that Mohammad Hossein Shamkhani had previously been sanctioned in July 2025, and said the latest measures expand pressure on networks connected to Iranian oil transportation.
U.S. Treasury Secretary Scott Bessent said the sanctions are directed at individuals and entities accused of leveraging complex financial structures for the benefit of sanctioned organizations. He added that the policy aims not only to restrict access to financial systems but also to influence behavior through sustained pressure on targeted networks.
In a separate action, OFAC said it sanctioned additional individuals and companies following a joint investigation with U.S. homeland security agencies. Among those designated was Sayed Naiemaei Badreddine Moussavi, identified by the Treasury as an Iranian national and Hezbollah financier, along with three companies alleged to be part of a broader financial and logistical network.
According to the Treasury, the network facilitated transactions involving Iranian oil exchanged for Venezuelan gold. Officials said the gold was then moved through multiple channels as part of a system intended to support financial flows connected to Hezbollah and Iran’s Islamic Revolutionary Guard Corps Quds Force. The Treasury added that the network allegedly operated through intermediaries across multiple countries and relied on complex trade-based arrangements.
The statement also described the use of shell companies registered in several jurisdictions, including the United Arab Emirates, India, and the Marshall Islands, which were allegedly used to obscure financial and shipping activities. The Treasury further said maritime vessels operating under irregular or concealed ownership structures were used to transport oil shipments as part of the network’s logistics.
Authorities stated that the sanctions include the freezing of any assets under U.S. jurisdiction and a prohibition on transactions involving designated individuals and entities. The measures also extend to companies that are majority-owned by sanctioned parties. Financial institutions that engage in transactions with the listed networks may face secondary sanctions, according to the Treasury.
Officials emphasized that the sanctions are part of ongoing efforts to disrupt illicit financial flows and strengthen enforcement against networks that operate across multiple jurisdictions using complex trade and shipping structures.
#SupplyChainNews #SanctionsUpdate #GlobalTrade #EnergyMarkets #FinanceNews
