The U.S. Department of the Treasury on Wednesday imposed sanctions on an international network of Iranian and Russian nationals, along with entities based in Iran, Russia and Nigeria, alleging they helped Tehran acquire weapons. The move adds to a sustained escalation of economic and military pressure Washington has increased in recent weeks following the collapse of negotiations with Iran.
According to the Treasury, Wednesday’s targets “illustrate Iran’s use of foreign aviation and transport companies, financial conduits and travel coordinators to conceal the Islamic Revolutionary Guard Corps’ (IRGC) role in illicit procurement and the movement of personnel worldwide.”
Wednesday’s actions are part of a string of coordinated economic measures. On Tuesday, the Treasury announced penalties against the shipping network of Hossein Shamkhani, described as the Iranian head of a business structure that Washington says manages strategic oil and arms operations for Tehran and Moscow. More than 50 entities were sanctioned that day, including shipping companies, vessels, digital wallets and individuals linked to Shamkhani.
Treasury Secretary Scott Bessent also reported the freezing of over $130 million in digital asset wallets allegedly connected to the Central Bank of Iran. “The Treasury is dismantling the financial infrastructure that enables the regime to continue its threats to U.S. national security and to global navigation,” he said.
In parallel with Tuesday’s sanctions, President Donald Trump reactivated a naval blockade on vessels traveling to or from Iranian ports or coastal areas. The U.S. Central Command (CENTCOM) confirmed the measure took effect at 4:00 p.m. New York time that day.
The reinstatement follows the failure of talks conducted under a provisional peace agreement signed on June 17 by Trump and Iranian President Masoud Pezeshkian. Tensions over control of the Strait of Hormuz—a critical route for global energy flows—led to renewed attacks and the suspension of the dialogue.
This week’s sanctions mark a sharp reversal from the initial plan to reintegrate Iran into the global economy through licenses conditioned on compliance in various areas. After the memorandum was signed, Bessent had indicated that Iran would begin invoicing its oil sales in U.S. dollars.
On July 8, Washington revoked the waiver that had allowed new sales of Iranian crude following a series of attacks on vessels in the Strait of Hormuz attributed to Tehran. Two days later, on July 10, it imposed additional sanctions on the financing network of Supreme Leader Mojtaba Jamenei.
Wednesday’s measures add to earlier actions: in May, sanctions targeted individuals and companies in China and Hong Kong accused of supporting Iran’s weapons sector, and in June, sanctions were imposed on 11 people and entities for assisting the IRGC and Iranian military forces in obtaining armaments.
(Based on reporting from Reuters and Bloomberg)