On Monday, the Trump administration announced a new round of sanctions against the global oil network of the Islamic Revolutionary Guard Corps (IRGC). This move is part of their "Economic Fury" campaign, aimed at cu...
On Monday, the Trump administration announced a new round of sanctions against the global oil network of the Islamic Revolutionary Guard Corps (IRGC). This move is part of their "Economic Fury" campaign, aimed at cutting off Iran's revenue sources amid rising tensions and disruptions in maritime activities.
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) named 12 individuals and companies believed to be involved in the sale and transport of Iranian oil to buyers in China. These entities were allegedly using front companies, shell firms, and sanctioned tankers to hide their activities.
The sanctions focus on businesses and individuals located in Hong Kong, Dubai, Sharjah, and Oman. U.S. officials claim these actors helped mask the IRGC's involvement in Iran's oil exports and redirected the earnings back to the regime.
“As Iran’s military struggles to regroup, our Economic Fury campaign will continue to limit funding for its weapons programs, terrorist proxies, and nuclear goals,” Treasury Secretary Scott Bessent stated.
These sanctions come as the Trump administration ramps up both military and economic pressure on Tehran during the ongoing Strait of Hormuz crisis, where commercial shipping remains significantly below normal levels despite intermittent diplomatic efforts.
The Treasury Department noted that the IRGC has increasingly depended on overseas cover companies in “lenient economic regions” to move oil and process payments outside Iran. Officials indicated that this network collaborates closely with the IRGC’s Shahid Purja’fari Oil Headquarters, which oversees illegal oil sales.
Among those sanctioned were Ahmad Mohammadi Zadeh, the head of the IRGC oil headquarters, as well as finance chief Samad Fathi Salami and commercial chief Mohammadreza Ashrafi Ghehi.
The Treasury also targeted several firms based in Hong Kong, such as Hong Kong Blue Ocean Limited and Hong Kong Sanmu Limited, accusing them of organizing shipments of Iranian oil using sanctioned tankers like the GAGAN, CANGJIE, and HASNA.
The designation of the tanker HASNA is significant due to its recent involvement in the Gulf crisis. It had been identified by U.S. officials as one of several Iranian-linked tankers involved in evading sanctions before being disabled during recent U.S. enforcement actions in the Persian Gulf.
Other companies sanctioned on Monday include Dubai-based Ocean Allianz Shipping LLC, Atic Energy FZE, Blanca Goods Wholesaler LLC, Universal Fortune Trading LLC, and Oman’s Zeus Logistics Group.
The Treasury stated that several firms helped facilitate shipments using sanctioned tankers such as HANSON, OTLA, SCALER, BELLA 1, ANDROMEDA V, XD LEO, and SKIPPER.
The administration is ready to intensify enforcement actions, which could include potential secondary sanctions against foreign financial institutions and Chinese independent “teapot” refineries that continue accepting Iranian crude oil.
The current measures are part of a broader approach by the Trump administration to cut off Iranian energy exports through sanctions, financial enforcement, and maritime pressure linked to their blockade strategy in the Persian Gulf.
“Any individual or vessel involved in the illegal trade of oil or other goods, through hidden channels or financial paths, risks facing U.S. sanctions,” the Treasury warned.
Under these sanctions, all U.S. assets and financial interests related to the designated individuals and companies are frozen, and U.S. persons are generally prohibited from engaging in transactions with them. Foreign banks involved in significant transactions could also face restrictions on accessing the U.S. financial system.