US issues new sanctions over Iran's oil shipments to China as part of Economic Fury
The State Department also announced areward of up to $15 millionfor information leading to the disruption of the financial mechanisms of the IRGC.
MAY 12, 2026 03:24
The US government on Monday announced sanctions againstthree people and nine companies, includingfour based in Hong Kongandfour in the United Arab Emirates, for aiding Iran's shipment of oil to China. The ninth company is based in Oman.
The US Treasury move follows sanctions announced on Friday on individuals andcompaniesaiding Iranian purchases ofweaponsandcomponentsused to make drones and ballistic missiles.
It comes days before US President Donald Trump's planned meeting with Xi Jinping, where he is expected to press theChinese leader to help resolve the standoff with Iranandreopen the critical Strait of Hormuz.
Treasury said the new designations by the Office of Foreign Assets Control (OFAC)targeted individuals and entitiesthat helped Iran'sIslamic Revolutionary Guard Corpssell and ship its allotment of Iranian oil toChina through a series of front companies.
Treasury Secretary Scott Bessent said the Trump administrationwould keep using sanctions to deprivethe Iranian government andmilitary of funding for weapons, itsnuclear program, orsupport for proxiesin the region.
“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.
$15 million in rewards for information disrupting financial mechanism of the IRGC
The State Department also announced a reward of up to $15 million forinformation leading to the disruptionof the financial mechanisms of the IRGC, which is designated by Washington as a terrorist organization, and its branches.
Treasury said theIRGC relies on shell companiesto arrange and receive payment for its allotment of Iranian oil shipments. It said Monday's action builds on sanctions imposed in July 2025 onGolden Globe, a Turkey-based company==that Treasury said handles hundreds of millions of dollars in IRGC oil sales annually.
The three people. sanctioned by the United States work for theIRGC's Shahid Purja'fari oilheadquarters and coordinatepayments through Golden Globe, the Treasury said.
https://www.jpost.com/middle-east/iran-news/article-895849