WASHINGTON:
The US ramped up economic sanctions on Iran and resumed a military blockade against the country after negotiations between the two nations broke down following renewed attacks in the Strait of Hormuz.
The treasury department on Tuesday announced new penalties on the shipping network of Hossein Shamkhani, the secretive Iranian leader of a business empire that it said handles strategically significant oil and arms deals for Tehran and Moscow. The department sanctioned more than 50 entities, including shipping companies, vessels, digital wallets and individuals.
The US…
