US Treasury sanctions 12 targets tied to Iranian oil shipments to China
The United States Treasury Department announced May 11 that it is imposing sanctions on 12 individuals and companies accused of helping facilitate Iranian oil sales to China as part of its “Economic Fury” campaign.
According to the Treasury Department, the sanctions target networks allegedly connected to the Islamic Revolutionary Guard Corps (IRGC), which U.S. officials say has used front companies to conceal its involvement in oil exports and move revenue through international financial channels.
In a statement, the Treasury said the Iranian government has directed oil revenues toward weapons programs, regional proxy groups, and internal security operations instead of supporting Iranian citizens.
The Treasury Department’s Office of Foreign Assets Control identified three individuals and nine companies allegedly tied to the operation. The sanctioned companies are based in locations including Hong Kong, Dubai, Oman, and Sharjah.
Among the companies named were Hong Kong Blue Ocean Ltd., Hong Kong Sanmu Ltd., Ocean Allianz Shipping LLC, Atic Energy FZE, Zeus Logistics Group, Jiandi HK Ltd., Max Honor International Trade Co. Ltd., Blanca Goods Wholesaler LLC, and Universal Fortune Trading LLC.
Treasury officials said the three individuals sanctioned are linked to the IRGC’s Shahid Purja’fari Oil Headquarters and were allegedly involved in coordinating payments through Golden Globe, which had previously faced U.S. sanctions in 2025.
The United States continues to enforce a broad ban on Iranian oil trading as Washington pressures Iran to halt its nuclear activities. U.S. officials say the sanctions are intended to weaken Iran’s financial ability to support weapons development and militant operations.
Scott Bessent said the administration plans to continue using sanctions and related measures to restrict Iran’s access to global financial systems.
The sanctions come shortly before a planned meeting between Donald Trump and Xi Jinping, where Iran and the Strait of Hormuz are expected to be among the key topics to be discussed.
