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U.S. Slaps 12 with Sanctions Over IRGC's Secret Oil Network
(MENAFN) The United States Treasury Department moved aggressively on Monday, slapping sanctions on 12 individuals and entities accused of running a clandestine network designed to help Iran's Islamic Revolutionary Guard Corps (IRGC) sell and smuggle oil to China through a web of front companies and financial intermediaries.
The targets span four jurisdictions — Iran, Hong Kong, the United Arab Emirates, and Oman — and are accused by Washington of orchestrating Iranian oil shipments and laundering the resulting revenues on behalf of the IRGC.
According to the Treasury Department, the network allegedly funnelled transactions through shell companies registered in foreign jurisdictions specifically to obscure the IRGC's direct involvement in oil sales and to move proceeds beyond Iran's borders. Officials said some of the illicit shipments were carried out aboard previously sanctioned vessels operating within what the US characterises as Iran's "shadow fleet."
Among the individuals named in the action is Ahmad Mohammadi Zadeh, identified as the head of the IRGC's Shahid Purja'fari Oil Headquarters, alongside finance chief Samad Fathi Salami and commercial director Mohammadreza Ashrafi Ghehi.
Several corporate entities were also blacklisted, including Hong Kong Blue Ocean Limited, Hong Kong Sanmu Limited, Ocean Allianz Shipping LLC, and Universal Fortune Trading LLC.
Treasury Secretary Scott Bessent made clear that Monday's action was part of a sustained campaign to choke off the financial lifelines fuelling Tehran's military and nuclear ambitions.
"As Iran's military desperately tries to regroup, Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies and nuclear ambitions," Bessent said.
The targets span four jurisdictions — Iran, Hong Kong, the United Arab Emirates, and Oman — and are accused by Washington of orchestrating Iranian oil shipments and laundering the resulting revenues on behalf of the IRGC.
According to the Treasury Department, the network allegedly funnelled transactions through shell companies registered in foreign jurisdictions specifically to obscure the IRGC's direct involvement in oil sales and to move proceeds beyond Iran's borders. Officials said some of the illicit shipments were carried out aboard previously sanctioned vessels operating within what the US characterises as Iran's "shadow fleet."
Among the individuals named in the action is Ahmad Mohammadi Zadeh, identified as the head of the IRGC's Shahid Purja'fari Oil Headquarters, alongside finance chief Samad Fathi Salami and commercial director Mohammadreza Ashrafi Ghehi.
Several corporate entities were also blacklisted, including Hong Kong Blue Ocean Limited, Hong Kong Sanmu Limited, Ocean Allianz Shipping LLC, and Universal Fortune Trading LLC.
Treasury Secretary Scott Bessent made clear that Monday's action was part of a sustained campaign to choke off the financial lifelines fuelling Tehran's military and nuclear ambitions.
"As Iran's military desperately tries to regroup, Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies and nuclear ambitions," Bessent said.
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