The United States Department of the Treasury on Wednesday imposed sanctions on an international network of Iranian and Russian nationals and on entities based in Iran, Russia and Nigeria, accusing them of helping Tehran acquire weapons. The move is part of an intensified economic and military pressure campaign the U.S. has stepped up in recent weeks after talks with Iran collapsed.
According to the Treasury, Wednesday’s targets “demonstrate Iran’s use of foreign aviation and transport firms, financial conduits and travel coordinators to conceal the Islamic Revolutionary Guard Corps’ (IRGC) role in the illicit procurement of material and the movement of personnel on a global scale.”
Wednesday’s actions follow a string of coordinated economic measures. On Tuesday, the Treasury sanctioned the maritime network of Hossein Shamkhani, described by Washington as the Iranian head of a business structure that 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 announced the freezing of over USD 130 million in digital asset wallets allegedly connected to the Central Bank of Iran. “The Treasury is dismantling the financial infrastructure that allows the regime to continue its threats to U.S. national security and to global navigation,” he said.
Alongside Tuesday’s sanctions, President Donald Trump reinstated a naval blockade on ships traveling to or from ports or coastal areas of Iran. U.S. Central Command (CENTCOM) confirmed the measure took effect at 4:00 p.m. New York time that day.
The resumption of the blockade followed the breakdown of talks begun 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 vital route for global energy shipments—led to renewed attacks and the suspension of negotiations.
On July 8, Washington revoked the waiver that had allowed new sales of Iranian crude after 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. This week’s measures add to earlier actions in May against individuals and companies in China and Hong Kong accused of supporting Iran’s weapons sector, and to June sanctions against 11 people and entities for assisting the IRGC and Iranian military forces in obtaining arms. (With information from Reuters and Bloomberg)