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Investing.com -- The United Kingdom (TADAWUL:4280) has announced sanctions against Iranian oil executive Hossein Shamkhani and four affiliated companies, as part of its wider measures against Iran.
The action is aimed at disrupting a network accused of supporting Tehran’s overseas activities in places such as Ukraine and Israel.
According to a government notice, the move imposes an asset freeze on Shamkhani and the companies, which operate across the shipping, petrochemical, and financial industries.
British authorities said the network was linked to Iranian government efforts that sought to undermine stability in the U.K. and abroad.
Some of the sanctioned businesses were accused of acting on Shamkhani’s behalf to facilitate Iran’s external operations.
Shamkhani was already blacklisted by the United States last month. Under the U.K.’s sanctions, any assets tied to the individuals or firms in Britain will be frozen, and U.K. citizens and businesses are barred from conducting transactions with them.