• US Treasury sanctions target over 115 individuals and entities linked to Iran’s oil transport.
• The sanctions focus on Mohammad Hossein Shamkhani’s shipping network, enhancing the "maximum pressure" campaign.
• Despite the sanctions, a US official asserts there will be no significant disruption to global oil markets.

The US Treasury Department has announced fresh sanctions targeting more than 115 individuals, entities, and vessels associated with an Iranian oil transport network, marking it as the most significant action since 2018. This move is part of the Trump administration's ongoing "maximum pressure" campaign following recent military engagements with Iran, specifically the bombing of its nuclear sites. Central to these sanctions is Mohammad Hossein Shamkhani, whose vast shipping interests include over 50 vessels and multiple companies allegedly involved in sanctions evasion, according to SCMP, Reuters, TRT Global, and Al Jazeera.

The sanctions aim to disrupt what the Treasury describes as a "vast shipping empire" controlled by Shamkhani, who is the son of Ali Shamkhani, a senior adviser to Iran’s Supreme Leader, Ayatollah Ali Khamenei. This extensive network is accused of facilitating the sale of Iranian and Russian oil worldwide and generating substantial profits that support the Iranian regime, with Treasury Secretary Scott Bessent emphasizing the significance of these actions as a means to curb Iran's capabilities, according to Reuters, TRT Global, and Al Jazeera.

In total, the sanctions encompass 15 shipping firms, 52 vessels, 12 individuals, and 53 entities implicated in shipping and oil trade violations across 17 countries, including Panama and Italy. Despite the severity of the sanctions, US officials do not foresee significant disruptions to the global oil market, suggesting that existing exports from Iran have already declined to approximately 1.2 million barrels per day from 1.8 million earlier this year, as noted by SCMP and Reuters.

Amid these tensions, Iranian officials have condemned the sanctions as hostile actions by the US government, indicating a likelihood of retaliation. Iranian Foreign Minister Abbas Araghchi stated that Iran will respond firmly to any aggression, reflecting the heightened state of diplomatic contention following these sanctions and ongoing military threats, according to TRT Global and Al Jazeera.