Merve Gül Aydoğan Ağlarcı
11 May 2026•Update: 11 May 2026
The United States Treasury Department on Monday imposed sanctions on 12 individuals and entities accused of helping Iran's Islamic Revolutionary Guard Corps (IRGC) sell and transport oil to China through a network of front companies and intermediaries.
The sanctions target companies and officials based in Iran, Hong Kong, the United Arab Emirates and Oman that Washington says facilitated shipments of Iranian oil and handled related financial transactions on behalf of the IRGC.
According to the Treasury Department, the network allegedly used shell companies in foreign jurisdictions to conceal the IRGC's role in oil sales and move revenues outside Iran.
The department said some of the shipments involved previously sanctioned tankers operating in what the US describes as Iran's “shadow fleet.”
Among those sanctioned are Ahmad Mohammadi Zadeh, identified as chief of the IRGC's Shahid Purja'fari Oil Headquarters, finance chief Samad Fathi Salami and commercial chief Mohammadreza Ashrafi Ghehi.
The sanctions also target multiple firms, including Hong Kong Blue Ocean Limited, Hong Kong Sanmu Limited, Ocean Allianz Shipping LLC and Universal Fortune Trading LLC.
Treasury Secretary Scott Bessent said in the statement that the US would continue efforts to block Iranian revenue streams tied to military and nuclear activities.
“As Iran's military desperately tries to regroup, Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies and nuclear ambitions,” Bessent said.
