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US Sanctions Network of Firms Over Alleged Iranian Oil Sales Scheme
(MENAFN) The United States has introduced sanctions against 12 individuals and companies accused of facilitating the sale and transport of Iranian oil, according to reports citing the US Treasury Department.
The measures target entities and figures allegedly linked to Iran’s Islamic Revolutionary Guard Corps (IRGC), which Washington claims operated an international network to move oil revenues to China through intermediaries and front companies based in multiple jurisdictions, including Iran, Hong Kong, the United Arab Emirates, and Oman.
Officials said the alleged scheme relied on shell companies to conceal the IRGC’s involvement in oil transactions and to transfer proceeds outside Iran. Some shipments were also said to involve previously sanctioned vessels described by US authorities as part of a so-called “shadow fleet” used for covert oil transport.
Among the individuals designated are officials identified by the Treasury as holding senior roles within IRGC-linked oil operations, including figures described as overseeing commercial, financial, and operational activities tied to petroleum exports.
Several companies were also added to the sanctions list, including Hong Kong-based and UAE-registered firms accused of acting as intermediaries in shipping and financial processes connected to the trade.
US Treasury Secretary Scott Bessent stated that the administration would continue efforts to restrict revenue streams that could support Iran’s military activities and other programs. He said, “As Iran's military desperately tries to regroup, Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies and nuclear ambitions,” according to reports.
The action is part of ongoing US pressure aimed at limiting Iran’s ability to generate and transfer oil-related revenues through international networks.
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