US imposes sanctions on IRGC network over Iranian oil smuggling to China
Photo: The United States has imposed sanctions on the IRGC network (Getty Images)
The US Treasury Department has imposed sanctions against the IRGC's international network for smuggling Iranian oil to China. This applies to companies in China, India, and the UAE, according to the US Treasury Department.
The sanctions target organizations in China, India, the UAE, and several oil tankers. The oil was delivered on behalf of Iran’s Armed Forces General Staff and its front company Sepehr Energy, which is under sanctions.
"Iran generates the equivalent of billions of dollars each year via oil sales to fund its destabilizing regional activities and support of multiple regional terrorist groups, including Hamas, the Houthis, and Hizballah. The AFGS utilizes networks of foreign-based front companies and brokers to enable these oil sales and shipments," the Department explains.
It is known that secondary sanctions may be applied to those who deal with individuals and companies identified on the list.
"The Iranian regime remains focused on leveraging its oil revenues to fund the development of its nuclear program, to produce its deadly ballistic missiles and unmanned aerial vehicles, and to support its regional terrorist proxy groups,” said Secretary of the Treasury Scott Bessent.
In November 2023, the US Treasury Department added Sepehr Energy to the sanctions list for providing logistical support to the Iranian armed forces.
Sanctions against Iran
Earlier this month, US President Donald Trump signed a memorandum on maximum pressure on Iran.
Even before his inauguration, President Trump stated that he planned to strengthen sanctions against Iran.
Earlier, the administration of former US President Joe Biden introduced a new package of sanctions against 35 organizations and vessels. According to the US Treasury Department, they are involved in the transportation of illegal Iranian oil.
Meanwhile, the European Union has imposed sanctions on Iran over the supply of missiles to Russia.
