US Imposes New Sanctions Over Iranian Oil Shipments To China

(MENAFN- Pajhwok Afghan News) KABUL (Pajhwok): The United States has imposed new sanctions on three individuals and nine companies, including four based in Hong Kong, four in the United Arab Emirates (UAE) and one in Oman, for allegedly facilitating the shipment and sale of Iranian oil to China, a media report said on Tuesday.

According to Reuters, the sanctions were imposed as part of efforts to prevent financing for Iran's nuclear programme and military activities.

It said four of the sanctioned companies were based in Hong Kong, four in the UAE and one in Oman.

However, details regarding the identities of the three sanctioned individuals were not disclosed.

The US Treasury said the new designations by the Office of Foreign Assets Control (OFAC) targeted individuals and entities that helped Iran's Islamic Revolutionary Guard Corps (IRGC) sell and transport Iranian oil to China through a network of front companies.

US Treasury Secretary Scott Bessent said Washington was seeking to restrict Iran's access to international financial networks.

According to the report, the sanctioned companies were involved in transporting millions of barrels of Iranian oil, coordinating payments and arranging vessels for oil exports.

The US State Department also announced a reward of up to $15 million for information that could help disrupt the IRGC's financial networks.

Meanwhile, Chinese Foreign Ministry spokesman Guo Jiakun criticised the US move, describing it as“illegal and unilateral.”

“We have always asked Chinese companies to conduct business in accordance with laws and regulations,” he said.

He stressed that China would firmly safeguard the legitimate rights and interests of its companies.

Iran has not yet officially commented on the matter.

hz/kk

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