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U.S. Hits Iran’s Oil Network With New Sanctions as Strait Blockade Turns Back 10 Ships

The campaign aims to cut cash to Hezbollah and Iran’s Quds Force by choking off seaborne oil money.

Overview

  • The Treasury announced sanctions on more than two dozen people, companies, and vessels linked to oil shipper Mohammad Hossein Shamkhani.
  • Officials also blacklisted Seyed Naiemaei Badroddin Moosavi and three firms over an oil‑for‑gold scheme that swapped Iranian crude proceeds for Venezuelan gold.
  • Treasury said the oil‑for‑gold network moved funds for Hezbollah and the Islamic Revolutionary Guard CorpsQuds Force.
  • U.S. Central Command said it redirected an Iranian‑flagged cargo ship as it enforced a Strait of Hormuz blockade that has turned back ten vessels with none getting through.
  • The United States will not renew a waiver that had allowed some Iranian oil at sea and let a similar waiver for Russian oil expire, according to Reuters sources.