The United States government has imposed sanctions on three individuals and nine companies accused of facilitating Iran’s oil exports to China through a network of front companies operating across Asia and the Middle East.
The move, announced on Monday by the U.S. Treasury Department, targets firms based in Hong Kong, the United Arab Emirates, and Oman, which Washington says helped the Iranian Islamic Revolutionary Guard Corps (IRGC) move and sell crude oil in violation of sanctions.
According to the Treasury, the designated entities supported the shipment of Iranian oil using shell companies and so-called shadow fleet tankers, enabling revenue flows to Tehran despite existing restrictions.
The action follows similar sanctions announced last Friday targeting individuals and firms involved in Iran’s procurement of weapons components used in drones and ballistic missile production.
U.S. Treasury Secretary Scott Bessent said the Trump administration would continue to tighten financial pressure on Tehran.
“Treasury will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilise the global economy,” he said.
The State Department also announced a reward of up to $15 million for information disrupting the IRGC’s financial operations, which Washington designates as a terrorist organisation.
The sanctioned network includes companies in Hong Kong, Dubai, Sharjah, and Oman accused of acting as intermediaries for oil sales and shipping arrangements linked to the IRGC and Iran’s National Iranian Oil Company.
Among them are Hong Kong-based trading firms, UAE logistics companies, and Oman’s Zeus Logistics Group, all accused of facilitating oil transport on sanctioned vessels and managing payments through covert channels.
Officials said the measures are part of broader efforts to disrupt Iran’s ability to fund its military activities, nuclear programme, and regional proxy groups.
The announcement comes just days ahead of a planned meeting between U.S. President Donald Trump and Chinese President Xi Jinping, where Iran and global energy security are expected to be key topics of discussion, including tensions around the Strait of Hormuz.
