The US Treasury Department’s Office of Foreign Assets Control (OFAC) has imposed sanctions on 12 individuals and entities accused of supporting the Islamic Revolutionary Guard Corps’ (IRGC) Iranian oil trade with China.
According to OFAC, the measures target a network of companies and intermediaries involved in arranging the sale, shipment and payment of Iranian oil cargoes linked to the IRGC. The sanctions were issued under Executive Order 13224, which targets terrorist groups and their supporters.
The action includes sanctions against companies based in Hong Kong, Dubai, Sharjah and Oman, as well as several individuals linked to the IRGC’s Shahid Purja’fari Oil Headquarters.
OFAC also identified several sanctioned tankers allegedly involved in transporting Iranian oil, including GAGAN, CANGJIE, HASNA, HANSON, OTLA, SCALER, BELLA 1 and ANDROMEDA V.
US Treasury Secretary Scott Bessent said the measures form part of Washington’s “maximum pressure” campaign aimed at restricting Iran’s oil revenues and financial networks.
