IDF Strikes Kill Jamshid Eshaqi, Commander of Iran’s Oil Headquarters Fueling IRGC Terror Network

In a major blow to Iran’s military finances, the Israel Defense Forces (IDF) confirmed the elimination of Major General Jamshid Eshaqi (also spelled Eshaghi or Ishaqi), commander of the Oil Headquarters for the Iranian regime’s armed forces. Eshaqi was killed along with several family members in a joint US-Israeli strike reported on March 31–April 1, 2026. Iran’s Islamic Revolutionary Guard Corps (IRGC) described him as a “martyr” and blamed the “US-Zionist attack.”

The Oil Headquarters, which Eshaqi led, forms an integral part of the regime’s armed forces. It enables the continuation of IRGC activities and military buildup through profits from illicit oil sales. As head of the Budget and Finance Office of the Armed Forces General Staff, Eshaqi oversaw the financial arm that funneled hundreds of millions of dollars from shadow fleet oil exports—primarily to China—directly into Iran’s ballistic missile program and terror proxies across the Middle East, including Hamas, Hezbollah, and the Houthis.

The US Treasury sanctioned Eshaqi in February 2025 for his central role in an international oil-smuggling network run through the front company Sepehr Energy. He previously coordinated crude shipments worth hundreds of millions while serving as an official with the entity.

This targeted strike comes amid escalating US-Israeli operations against Iran’s military leadership. It follows the deaths of other senior figures, including IRGC Aerospace Force commander Hossein Salami’s predecessor and Navy Commander Admiral Alireza Tangsiri. Israeli strikes have repeatedly hit missile production sites, financial hubs, and command centers in Tehran and Khuzestan province.

Analysts say Eshaqi’s removal disrupts Tehran’s ability to launder oil revenue into weapons and proxy funding at a critical time. The regime’s oil-smuggling apparatus, long used to evade sanctions, now faces intensified pressure as the conflict enters its latest phase. Iran has vowed retaliation, but the loss of a key financial architect weakens its war machine from within.