US targets Iran oil networks, Hezbollah financing in new sanctions push

The United States has announced a new round of sanctions aimed at curbing Iran’s oil revenues and disrupting financial networks linked to its regional allies, as tensions continue over Tehran’s activities in the Strait of Hormuz.

In a statement, the U.S. Department of State said the measures target a multi-billion-dollar oil smuggling network associated with Mohammad Hossein Shamkhani, as well as a separate oil-for-gold scheme allegedly used to finance Hezbollah and the Islamic Revolutionary Guard Corps Qods Force, Caliber.Az reports. 

Washington accused Tehran of using illicit oil sales and complex financial arrangements to bypass existing sanctions and fund what it described as “malign activities” across the Middle East. The statement also alleged that revenues from such operations disproportionately benefit elite figures, including the Shamkhani family, while Iran’s broader population faces worsening economic conditions.

The latest measures form part of a broader “maximum pressure” campaign launched under Donald Trump. According to the State Department, more than 1,000 individuals, vessels, and aircraft have been sanctioned since the introduction of National Security Presidential Memorandum 2, which targets Iran’s economy and its regional proxy networks.

U.S. officials said the new sanctions are intended to further restrict Iran’s ability to generate revenue and to prevent funds from reaching allied groups such as Hezbollah. 

By Sabina Mammadli