US Issues New Sanctions Over Iran’s Oil Shipments to China

The United States has escalated its pressure campaign against Iran by announcing a new round of sanctions targeting individuals and entities involved in facilitating Iran's oil exports to China. This action, spearheaded by the U.S. Treasury Department, demonstrates Washington's unwavering commitment to disrupting Tehran's financial lifelines and curbing its regional influence.

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Treasury will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy.

The sanctions specifically name three individuals and nine companies, including several based in Hong Kong and the United Arab Emirates, accused of acting as front companies to obscure the origins and destinations of Iranian oil. The U.S. Treasury stated that these designations are aimed at individuals and entities that helped Iran's Islamic Revolutionary Guard Corps (IRGC) sell and ship its oil to China. This move is part of a broader strategy to deprive the Iranian government and military of the funding needed for weapons development, its nuclear program, and support for proxies in the region.

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The U.S. Treasury move follows sanctions announced on Friday on individuals and companies aiding Iranian purchases of weapons and components used to make drones and ballistic missiles.

Treasury Secretary Scott Bessent emphasized the administration's resolve, stating, "Treasury will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy." The State Department has also offered a substantial reward of up to $15 million for information leading to the disruption of the IRGC's financial mechanisms. The IRGC, designated as a terrorist organization by Washington, is said to rely heavily on shell companies for managing payments related to its oil shipments.

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The three people sanctioned by the United States work for the IRGC’s Shahid Purja’fari oil headquarters, coordinating payments through Golden Globe, Treasury said.

This latest action comes just days before a planned meeting between U.S. President Donald Trump and Chinese President Xi Jinping. The U.S. is expected to press China to play a more active role in resolving the standoff with Iran and ensuring the free flow of oil through the Strait of Hormuz. The sanctions serve as a clear signal to Beijing about the consequences of continuing to facilitate Iranian oil trade, potentially complicating discussions between the two global powers.

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Hong Kong-based Hong Kong Blue Ocean Ltd and Hong Kong-based Hong Kong Sanmu Ltd, both of which Treasury described as cover companies that arrange the sale and shipment of Iranian oil.