The United States on Monday imposed sanctions on three individuals and nine companies, including four based in Hong Kong and four in the United Arab Emirates, for facilitating Iran’s oil shipments to China, the Treasury Department announced. The ninth company is based in Oman. The move targets the Islamic Revolutionary Guard Corps (IRGC) and its use of front companies to sell and transfer Iranian oil to China, escalating Washington’s pressure on Tehran ahead of a planned meeting between US President Donald Trump and Chinese President Xi Jinping.
The sanctions, imposed by the Office of Foreign Assets Control (OFAC), are the latest in a series of measures aimed at curbing Iran’s oil revenue, which the US says funds weapons development, nuclear activities, and support for proxies in the region. On Friday, the Treasury announced sanctions on individuals and entities aiding Iranian purchases of components for drones and ballistic missiles. Treasury Secretary Scott Bessent stated that the Trump administration would continue using sanctions to deprive the Iranian government and military of funding for ‘weapons, its nuclear program or support for proxies in the region.’
According to the Treasury, the IRGC relies on shell companies to coordinate and receive payment for its allotted Iranian oil shipments. Monday’s action builds on sanctions imposed in July 2025 on Golden Globe, a Turkey-based company that the Treasury says handles hundreds of millions of dollars in IRGC oil sales annually. The three individuals sanctioned work for the IRGC’s Shahid Purjafari oil headquarters, coordinating payments through Golden Globe.
The State Department also announced a reward of up to $15 million for information leading to the disruption of the IRGC’s financial mechanisms. The IRGC is designated by Washington as a terrorist organization. The sanctions come days before Trump’s scheduled meeting with Xi Jinping, where he is expected to press China to help resolve the standoff with Iran and reopen the critical Strait of Hormuz. China is the largest buyer of Iranian oil, and the US has been seeking to reduce that flow as part of its maximum pressure campaign.
The new designations highlight ongoing tensions between the US and Iran, as well as the complexities of enforcing sanctions amid global energy markets. For more on US-Iran relations, see Reuters or BBC for background.
Source: ARY News