On July 15, according to a statement from the US Treasury Department, the country expanded sanctions targeting Iran's oil sector, continuing to target the oil transportation network run by Iranian oil transportation tycoon Mohammad Hossein Shamkhani.
This move comes after US forces conducted airstrikes on Iran for the 4th consecutive day and re-imposed naval blockades. The International Maritime Organization (IMO) reported that Iran attacked ships passing through the Strait of Hormuz.
Iran began blockading the Strait of Hormuz - a vital maritime route for global oil supplies - after attacks by the US and Israel in February. The US imposed a blockade on Iranian ports from mid-April to mid-June.
The US Treasury Department said: "This move is part of the US Treasury Department's continuous efforts to increase economic pressure on the Iranian government after the country resumed destabilizing activities in the Strait of Hormuz.
This agency accused Mr. Shamkhani's network of still being the key force behind Iran's oil export activities, and has expanded into the field of global commodity trading.
The new round of sanctions targets more than 50 individuals, organizations and ships that Washington believes have helped the Iranian government profit from oil exports.
The US Treasury Department said it has so far imposed sanctions on more than 200 individuals, entities and ships operating under the patronage of Mr. Shamkhani.
Mr. Shamkhani is the son of Iranian security official Ali Shamkhani - Advisor to the late Iranian Supreme Leader Ali Khamenei. Both Ali Shamkhani and Ali Khamenei died on February 28 - the first day the US and Israel launched an attack on Iran.
