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UK targets Iranian oil magnate, four companies with asset freeze

Middle East News

21-08-2025 | 06:42

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UK targets Iranian oil magnate, four companies with asset freeze

Britain imposed sanctions on one individual and four entities on Wednesday under its Iran sanctions regime, saying they are part of a network that supports Tehran's overseas activities, including in Ukraine and Israel.

The sanctions include an asset freeze on Iranian oil magnate Hossein Shamkhani, and on four companies operating in the shipping, petrochemical and financial sectors, according to a government notice published online.

Britain said the network had facilitated hostile activity by the Iranian government, including efforts to destabilize the UK and other countries.

Some of the companies were cited for acting on behalf of or at the direction of Shamkhani, who is accused of aiding Iran's overseas operations. Shamkhani was also sanctioned by the United States last month.

The sanctions freeze any UK-based assets and bar British individuals and businesses from dealing with the designated parties.

Reuters

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