The U.S. Department of the Treasury has announced new sanctions against individuals and tankers involved in the illicit shipment of Iranian oil to China.
According to a statement released on February 6, the Treasury Department emphasized that Iran earns “billions of dollars” annually from oil sales, which it uses to fund destabilizing activities and support various terrorist organizations, including Hamas and Hezbollah.
“To carry out these oil sales and deliveries, Iran’s Armed Forces General Staff relies on networks of front companies and brokers operating abroad,” the statement said.
The U.S. uncovered a scheme in which Iran supplied oil to China on behalf of the Iranian military through two front companies. The sanctions target individuals in China, India, and the UAE, as well as several ships used to transport the oil. These measures block their access to any assets in the U.S. and prohibit American entities from providing assistance.
U.S. Treasury Secretary Scott Bessent stated that Iran is “focused on using its oil revenues to fund the development of its nuclear program” and to support proxy terrorist groups in the region.
“The United States is committed to aggressively countering any attempts by Iran to secure financing for this malicious activity,” Bessent added.
