As tensions rise over Tehran’s ongoing closure of the Strait of Hormuz, the United States has announced more stringent sanctions on Iran’s oil industry.

More than two dozen people, businesses, and ships connected to a shipping network connected to Mohammad Hossein Shamkhani are the targets of the actions, which were announced by the US Department of Treasury.

According to US Treasury Secretary Scott Bessent, the action was a part of a campaign of increased financial pressure. He declared, “Treasury is moving aggressively with ‘Economic Fury’ by targeting regime elites like the Shamkhani family that try to profit at the expense of the Iranian people.”

The US State Department added that the sanctions are aimed at limiting Iran’s ability to generate revenue while it continues to disrupt global energy flows. “The United States is acting to decisively limit Iran’s ability to generate revenue as it attempts to hold the Strait of Hormuz hostage,” the department said.

Iran has effectively shut down the key waterway, a major global route for oil and gas shipments, in response to ongoing conflict involving the US and Israel. In turn, Washington has imposed a naval blockade on Iranian ports.

The US alleges that the Shamkhani-linked network operates across Iran and the United Arab Emirates, using front companies to bypass sanctions and facilitate oil shipments.

In a further step, the Treasury also sanctioned Seyed Naiemaei Badroddin Moosavi, described as a financier for Hezbollah, along with three companies tied to an alleged money laundering scheme involving Iranian oil and Venezuelan gold.

The latest sanctions come amid rising geopolitical tensions and concerns over global energy supply disruptions linked to the conflict in the Middle East.