US expands sanctions on Iran’s oil network

WASHINGTON: The United States has imposed new sanctions on 9 companies and 3 individuals transporting Iranian oil to China, in a new attack on Iran.

In this regard, according to a Reuters report, the US Treasury Department has announced new sanctions related to Iran, under which sanctions have been imposed on 3 Iranian individuals and 9 companies.

According to the report, the US Treasury Department has imposed new sanctions on three individuals and nine companies for assisting in the transfer of Iranian oil to China. The companies affected by the sanctions include entities based in Hong Kong, the United Arab Emirates and Oman.

According to US officials, the new sanctions have been imposed on individuals and companies that were facilitating the sale and delivery of Iranian oil to the Revolutionary Guards (IRGC).

The US Treasury Department claimed that the Iranian Revolutionary Guards have been receiving money by selling oil to China through the IRGC and shale companies.

Treasury Secretary Scott Besant said the Trump administration will continue to increase pressure on Tehran to deny the Iranian government and military the financial resources to support its weapons, nuclear program, and proxies in the region.

The companies targeted by the sanctions include Hong Kong Blue Ocean Limited, Hong Kong Sanmo Limited, Dubai-based Ocean Alliance Shipping LLC, Blanca Goods Wholesaler LLC, Universal Fortune Trading LLC, Sharjah-based Attock Energy FZE, and Oman-based Zeus Logistics Group.

U.S. officials say the companies facilitated the use of sanctioned “shadow fleet” tankers to transport Iranian oil through 2025, while some companies also entered into agreements to purchase Iranian oil.