Treasury sanctions network accused of helping IRGC sell Iranian oil to China
The Treasury Department’s Office of Foreign Assets Control on Monday announced new sanctions on 12 individuals and entities accused of helping Iran’s Islamic Revolutionary Guard Corps sell and transport oil to China through a network of front companies.
TL;DR
- The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced sanctions on 12 individuals and entities.
- These targets are accused of aiding Iran's Islamic Revolutionary Guard Corps (IRGC) in selling and transporting oil to China.
- The network allegedly used front companies based in Hong Kong, Dubai, and Oman to disguise IRGC's involvement and funnel proceeds.
- Sanctions are part of "Economic Fury" to deprive the Iranian regime of funding for weapons programs and terrorist activities.
- Three Iranian officials, identified as the chief, finance chief, and commercial chief of the IRGC's Shahid Purja'fari Oil Headquarters, were sanctioned.