United States imposes new sanctions on networks facilitating Iranian oil exports to China

The United States Department of the Treasury has announced sanctions against 12 individuals and entities accused of facilitating the sale and transport of Iranian oil to China. The sanctioned list includes three individuals based in Iran and nine companies operating in Hong Kong, the United Arab Emirates, and Oman. According to US authorities, these entities acted as shell companies to conceal the involvement of the Islamic Revolutionary Guard Corps (IRGC) in oil sales. The measures prohibit American citizens and companies from conducting business with the designated entities and freeze all assets held within the United States. US Treasury Secretary Scott Bessent stated that these actions aim to disrupt financial networks used by the Iranian government to fund its nuclear program and regional activities. The sanctions were announced shortly before a planned visit by President Donald Trump to China, where he is expected to discuss the situation with President Xi Jinping. While English sources report nine companies in Hong Kong and the UAE, Greek sources specify four in Hong Kong, four in the UAE, and one in Oman. This move follows previous US sanctions targeting individuals and entities involved in the production of Iranian drones and ballistic missiles.