Several Caribbean-registered vessels, two shipping companies based in St Kitts and Nevis, and two Iranian nationals who hold Dominican passports have been included in a sweeping new round of US sanctions targeting an alleged Iranian shipping and sanctions-evasion network.

The measures, announced Tuesday by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), are part of action against a network linked to Iranian businessman Mohammad Hossein Shamkhani, whom US authorities accuse of facilitating illicit oil exports through a complex international shipping operation.

Among those designated are St Kitts and Nevis-based Nuvetrro Shipping Inc. and Veltrrivo Shipping Inc., which the Treasury said own the Antigua and Barbuda-flagged vessels JADE and OPAL, respectively.

The sanctions also cover several vessels sailing under Caribbean flags, including the St Kitts and Nevis-flagged NADIA, the Antigua and Barbuda-flagged HOPE 1, JADE, OPAL and CICCIO, and the Barbados-flagged ELPINIKI.

Also named are Iranian nationals Hossein Ghorbani Zahed and Mohammad Reza Rahbar Madani, both of whom hold Dominican passports. 

US officials allege the pair acted as key financiers for the network by providing access to foreign currency and establishing shell companies used to facilitate trade.

Overall, the Treasury sanctioned more than 50 individuals, companies and vessels across multiple jurisdictions, saying the network has become a major player in Iran’s oil exports while expanding into global container shipping and commodities trading.

US Treasury Secretary Scott Bessent said the action is aimed at disrupting the financial and logistical infrastructure supporting the network.

“The Iranian regime survives on deception, and the Shamkhani network is one of its most profitable engines. Treasury is shutting down the financial infrastructure that allows the regime to continue its threats to US national security and global shipping,” Bessent said.

Under the sanctions, any assets belonging to the designated individuals or entities that fall under US jurisdiction are frozen, while US persons are prohibited from conducting business with them. 

The Treasury also warned that foreign companies and financial institutions could face sanctions if they knowingly facilitate certain transactions involving those listed.