On Monday, November 11, the U.S. Treasury Department announced sanctions against 12 individuals and entities accused of facilitating the sale and shipment of Iranian oil to China. This action is part of the Trump administration's efforts to intensify economic pressure on Iran amidst escalating tensions between the United States and Iran.

The Treasury Department stated that the Islamic Revolutionary Guard Corps (IRGC) uses shell companies and offshore financial networks to conceal its role in oil sales and divert revenues to Iran.

According to the Treasury Department, revenues generated from oil transactions are used to support Iran's weapons programs, terrorist organizations, nuclear activities, and internal security forces.

This action was taken under Executive Order 13224, established by counter-terrorism authorities, which targets terrorist organizations, their supporters, and those who aid terrorist acts. The IRGC was designated for sanctions on October 13, 2017, for its support of the Quds Force, and the National Iranian Oil Company (NIOC) was also designated for sanctions on October 26, 2020, for its support of the Quds Force.

In a statement, Treasury Secretary Scott Bessent said, "As IRGC leaders find themselves trapped like rats on a sinking ship, the Treasury Department will continue to relentlessly pursue our 'Economic Fury' campaign. Under President Trump's strong leadership, we will continue to target foreign individuals and companies that provide weapons to the Iranian military for use against American forces, thereby protecting American security."

The Treasury Department stated that "Yushita Shanghai International Trade Co., Ltd., based in China, acts as an intermediary for the Center for Development of Advanced Technologies (CDPI) of Iran, a successor to Iran's Center for Innovation and Technology Cooperation (CITC), which coordinates Iran's efforts to acquire technology," and claimed that "CITC has sought to purchase weapons from China, including man-portable air defense missile systems (MANPADS)."

The Treasury Department's Office of Foreign Assets Control (OFAC) announced additional sanctions against Fishtech Electronic Safheh Company (PESC), based in Iran, stating that the company "procured thousands of servo motors used in one-way attack unmanned aerial vehicles (UAVs) recovered from shot-down Shahed-136 drones for the IRGC Aerospace Force's Self-Sufficiency Jihad Organization."

The Treasury Department pointed to its connection with China, claiming that "Hitex Insulation Ningbo Co., Ltd., based in China, supplied or attempted to supply millions of dollars worth of carbon fiber, honeycomb fabric, and other aerospace-grade raw materials to PESC, which were ultimately intended for the IRGC Aerospace Special Operations Unit (IRGC ASF SSJO)."

The Treasury Department stated that it may impose secondary sanctions on foreign financial institutions that support Iran's activities, particularly those associated with independent "teapot" refineries in China, as needed.

It warned that "through this blockade, the Trump administration is directly targeting the regime's primary sources of income," and "individuals or vessels that facilitate the illicit trade of oil or other commodities through covert deals or financial channels may be subject to U.S. sanctions."

These sanctions target companies and individuals associated with the Shahid Purja'fari Oil headquarters of the IRGC, with the State Department stating that this headquarters coordinates oil sales and financial transactions through shell companies located outside of Iran.

Several companies based in Hong Kong, Dubai and Sharjah in the United Arab Emirates, and Oman supported the shipment of Iranian oil using sanctioned tankers in 2025.

The 'Economic Fury' operation is intensifying efforts to disrupt Iran's oil imports, shadow financial activities, and digital asset networks.

Previous measures have resulted in the blockage of billions of dollars in anticipated Iranian oil revenue and the freezing of approximately $500 million in cryptocurrency linked to the regime.

Under these sanctions, assets and financial interests of designated individuals and companies within U.S. jurisdiction are frozen.

This announcement comes on the same day that President Trump stated in the Oval Office that the fragile ceasefire with the Iranian regime "is on life support."

The President also criticized Iran's proposal for peace talks as "unacceptable" and a "foolish offer."

President Trump had previously postponed his meeting with Chinese President Xi Jinping from March to May due to military operations in Iran.

Last week, when asked about the relationship between China and Iran, the President replied, "I have a very good relationship with President Xi. But he has been very kind on this matter. Frankly, he imports about 60 percent of his oil from the Strait of Hormuz. And he's been, I think, very courteous. We have not been challenged by China. They do not challenge us. And he will not do that. I don't think he'll do that for me. But I think he's been very courteous."

The Trump administration's efforts to sever ties between Iran and China are also expected to extend to human rights issues.

In October, Secretary of State Marco Rubio stated that the United States "condemns the Chinese Communist Party's (CCP) recent detention of dozens of leaders of the unregistered House of Zion Church, including prominent pastor Mingli 'Ezra' Jin."

Last week, President Trump was reportedly told he would raise the issue when asked about the imprisonment of Christian pastors.

Jimmy Lai, a Catholic and prominent figure in the Hong Kong pro-democracy movement, has also been prosecuted by the Chinese government. Lai was convicted of fraud in October 2022. Lai has also been charged with "colluding with foreign forces" and "producing seditious publications," which could result in a life sentence.

President Trump stated in an interview with conservative radio host Hugh Hewitt in May that he had raised the issue with President Xi in previous meetings and would do so again in this week's meeting.

He also said at the White House on Monday, "I will mention both. I have mentioned it before. The Jimmy Lai case."

He added, "Jimmy Lai has caused a lot of friction with China and tried to do the right thing, but ended up in jail. People want to see him released, and I do too. So I'll be mentioning him again."

U.S. NNP=Hong Seong-gu, Chief Correspondent / Special Contributor NNP info@newsandpost.com