Washington, D.C. — July 9 — The United States has imposed a new round of sanctions targeting individuals and companies involved in the trade of Iranian oil, according to a statement released by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC).
The sanctions affect 22 entities based in Hong Kong, the United Arab Emirates, and Turkey, which U.S. authorities say were involved in facilitating oil sales that benefit Iran’s Islamic Revolutionary Guard Corps (IRGC) — specifically the IRGC-Quds Force, a designated terrorist organization under U.S. law.
“These entities have been helping to move hundreds of millions of dollars in revenue through offshore accounts and front companies,” OFAC stated, adding that these financial networks are key to sustaining the IRGC’s overseas operations.
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The latest measures are part of Washington’s broader campaign to disrupt Iran’s ability to generate revenue through its energy exports, especially in violation of existing U.S. sanctions regimes.
The IRGC is accused of using foreign intermediaries and complex financial networks to evade restrictions and fund its regional activities.
The Treasury Department reiterated its commitment to tightening enforcement and targeting global facilitators of Iranian oil sales.
