DOJ Seeks to Forfeit $15 Million in Assets from Iranian Oil Executive's Companies

US Justice Department Files Civil Forfeiture Complaints Against Iranian Oil Tycoon

The US Justice Department has filed two civil forfeiture complaints against Hossein Shamkhani, an Iranian oil tycoon, in connection with alleged breaches of sanctions while using a global network of banks. The federal court complaints seek the forfeiture of $15.1 million allegedly used to fund an illicit Iranian oil distribution network operated by Shamkhani.

According to the filings, the proceeds were part of billions of dollars the US government alleges were laundered from the sale of Iranian and Russian oil, mostly to buyers in China. The US Treasury Department sanctioned Shamkhani in July 2025, prior to the recent US-Israeli attacks on Iran.

A multiyear investigation by Bloomberg News revealed how Shamkhani built a secretive trading empire spanning Iranian oil sales, Russian arms deals, and even a London hedge fund. Through a web of tankers, trading firms, and shell companies, the network generated tens of billions of dollars in profit, according to the US Treasury.

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Operating under aliases such as "H" and "Hector," Shamkhani kept a low public profile even as his firms supplied international oil buyers and transacted with Wall Street banks. While recent sanctions have disrupted some of the network's activities, people familiar with the matter say the group has reorganized itself to remain an important player in the market.

Case details: One of the cases is US v. $12,973,529, 26-cv-802, US District Court, District of Columbia (Washington).