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The U.S. Trump administration on the 11th (local time) designated three individuals and nine companies as targets for sanctions for supporting the export of Iranian crude oil to China.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced these new sanctions, stating that the Islamic Revolutionary Guard Corps (IRGC) is concealing its role in crude oil sales by using shell companies established in countries with lax regulations, and channeling the profits acquired through these means to the Iranian regime.
The three sanctioned individuals are Iranian nationals, and among the nine companies, four are based in Hong Kong, four in the United Arab Emirates (UAE), and one in Oman.
Treasury Secretary Steven Mnuchin stated, "The 'Economic Fury' operation will continue to cut off the funding sources for the Iranian regime's weapons programs, terrorist proxies, and nuclear ambitions."
Individuals and entities subject to sanctions will have all their assets within the United States frozen, and transactions with them within the U.S. are also prohibited.
With the peace talks between the United States and Iran in a stalemate, the U.S. is intensifying its economic pressure measures on Iran.
On the 8th, the Treasury Department also sanctioned 10 Chinese and Hong Kong companies and individuals involved in supporting Iran's weapons and drone production.
Attention is focused on whether the U.S. will request cooperation from China during President Donald Trump's visit to China from the 13th to the 15th for resolving the Iran issue and reopening the Strait of Hormuz.
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