US Imposes New Sanctions on Iran's Oil Networks Linked to Revolutionary Guard

The U.S. Department of the Treasury, through its Office of Foreign Assets Control (OFAC), has announced a new round of sanctions targeting 12 individuals and entities accused of facilitating oil sales and shipments on behalf of Iran's Islamic Revolutionary Guard Corps (IRGC) to China. These operations allegedly utilized front companies and networks across multiple countries.

The Treasury Department stated that these networks rely on commercial entities and financial intermediaries in economically flexible regions to obscure the origins of Iranian oil revenue. According to the statement, these funds are then used to finance armament programs, support militant groups, and fund internal security agencies within Iran.

U.S. Treasury Secretary Scott Bessent affirmed that the United States will continue its "economic warfare" campaign to deny the Iranian regime its funding sources. He emphasized that these measures are designed to disrupt oil smuggling networks and illicit financial activities.

The sanctions are being implemented under Executive Order 13224, which targets terrorist financing. The National Iranian Oil Company has previously been sanctioned for its role in supporting IRGC-related activities. The newly sanctioned individuals and entities are involved in financial and logistical networks extending between Iran, Hong Kong, Dubai, and Oman, participating in oil sales and transport via the so-called "shadow fleet" to circumvent sanctions.

The measures include freezing assets within the United States, prohibiting transactions with the designated individuals and entities, and potentially imposing secondary sanctions on foreign financial institutions that engage with these networks. OFAC reiterated that these actions are part of a broader strategy to pressure Tehran by targeting its oil and financial resources and limiting its ability to evade sanctions through intermediary companies and front businesses.

Washington notes that similar campaigns in recent years have resulted in the freezing of assets and the disruption of billions of dollars in oil revenues linked to Iran, aligning with a policy aimed at reducing Tehran's regional influence.