WASHINGTON – Federal officials on Monday imposed financial penalties on a dozen individuals and businesses accused of facilitating Iran’s petroleum exports to China, the Treasury Department announced.
The sanctions target three individuals and nine companies operating across multiple countries, with four entities located in Hong Kong, four in the United Arab Emirates, and one in Oman.
Monday’s action follows similar penalties imposed Friday against people and organizations that helped Iran acquire weapons and components for manufacturing drones and ballistic missiles.
The timing comes just ahead of a scheduled meeting between President Donald Trump and Chinese leader Xi Jinping, where Trump plans to urge China’s cooperation in resolving tensions with Iran and reopening the strategically important Strait of Hormuz.
According to Treasury officials, the Office of Foreign Assets Control’s latest designations focus on individuals and organizations that assisted Iran’s Islamic Revolutionary Guard Corps in selling and transporting Iranian petroleum to China through shell companies established in countries with lenient economic oversight.
Treasury Secretary Scott Bessent indicated the Trump administration plans to intensify economic pressure on Tehran to cut off funding streams that support Iran’s weapons programs, nuclear activities, and regional proxy groups.
“Treasury will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy,” Bessent said.
