Trump Administration Unleashes 'Operation Economic Fury' with Sweeping Sanctions on Iranian Oil Smuggling Network

WASHINGTON — The Trump administration formally launched “Operation Economic Fury” on April 15, 2026, imposing new sanctions on more than two dozen individuals, companies, and vessels tied to a multi-billion-dollar Iranian oil smuggling empire run by regime elites. The move pairs maximum economic pressure with the recent military campaign known as Operation Epic Fury.

Treasury Secretary Scott Bessent announced the action, stating: “Treasury is moving aggressively with Economic Fury by targeting regime elites like the Shamkhani family that attempt to profit at the expense of the Iranian people.” He warned financial institutions that the U.S. will use “all tools and authorities, including secondary sanctions,” against those supporting Tehran’s activities.

The sanctions target the network led by Mohammad Hossein Shamkhani, son of the late senior Iranian security official Ali Shamkhani. Shamkhani oversees a petroleum sales empire involving Iranian and Russian oil that generates billions while funding the regime and proxies like Hezbollah. This builds on Treasury’s July 2025 action — the largest single designation in the revived maximum pressure campaign — which already hit parts of the same network.

Key measures include:

• Designation of front companies and operators: UAE-based Oriel Group (umbrella for shipping/logistics), Corplinx Consultancy LLC FZ (administrative cover), House of Shipping Investment FZCO and its Indian subsidiary, Shipstar Shipchandling LLC (vessel supplies), Meriton DMCC (vessel procurement), Taylor Shipping FZCO, and Shipza Shipping Limited. Individuals Chetan Prakash Balhotra and Tanjore Sunilkumar Srinivas were also sanctioned for roles in procurement and management.
• Vessel sanctions: Multiple tankers in the “shadow fleet,” including AURA (IMO 9274563, carried over 3 million barrels of Iranian LPG since 2025), HORAE, VERSA, ANAYA, DAPHNE V, and SILVAR. These ships transport crude, oil products, and LPG for the regime.
• Hezbollah-linked money laundering: Iranian national Seyed Naiemaei Badroddin Moosavi and three companies were hit for a scheme trading Iranian oil for Venezuelan gold to benefit Hezbollah and the IRGC-Qods Force.

The actions rely on Executive Orders 13902 (Iran sector sanctions) and 13224 (counterterrorism). They form part of National Security Presidential Memorandum 2, under which Treasury has sanctioned over 1,000 entities since early 2025.

Additional steps in Operation Economic Fury:

• End of oil waivers: A 30-day sanctions waiver on Iranian oil at sea (issued March 20, 2026, allowing 140 million barrels to reach markets) expires April 19. A similar waiver on Russian oil expired April 12.
• Secondary sanctions warnings: Letters sent to banks in China, Hong Kong, UAE, and Oman caution against handling Iranian funds. At least $9 billion flowed through U.S. correspondent accounts in 2024 via front companies. Non-compliant banks risk cutoff from the U.S. financial system.
• Broader warnings: Countries and firms buying Iranian oil or paying transit fees face secondary sanctions.

These measures follow the U.S. naval blockade of Iranian ports and the recent 10-day Israel-Lebanon ceasefire, with the Strait of Hormuz now reopened for commercial traffic.

For American families and businesses still feeling the sting of higher energy prices from the recent conflict, Operation Economic Fury aims to starve the regime of revenue without further military engagement, forcing Tehran toward a lasting deal that ends its nuclear ambitions and terror financing.