US expands sanctions targeting Iran oil, cryptocurrency sectors

AI Summary

The US Treasury Department expanded sanctions targeting Iran's oil and cryptocurrency sectors, focusing on the network of petroleum shipping magnate Mohammad Hossein Shamkhani. The Shamkhani network is implicated in Iran's global commodities trading and oil exports.

The United States on Tuesday expanded its sanctions targeting Iran's oil sector, taking further aim at the network of petroleum shipping magnate Mohammad Hossein Shamkhani, the Treasury Department said. It charged that the Shamkhani network remains a key force behind Iran's oil exports, and has expanded into global commodities trading.