U.S. Sanctions Network Behind Iranian Oil Shipments To China, Iran Condemns Move

The United States has imposed new sanctions on a global network accused of transporting millions of barrels of Iranian crude oil to China.

This network operates on behalf of Iran’s Armed Forces General Staff (AFGS) and its sanctioned front company, Sepehr Energy Jahan Nama Pars (Sepehr Energy).

The sanctions target multiple entities and individuals from China, India, and the UAE, along with several vessels involved in the oil trade.

According to the U.S. Treasury Department, Iran earns billions of dollars annually from oil sales, which it uses to support regional groups such as Hamas, Hizballah and the Houthis.

The AFGS is said to manage these sales through foreign-based brokers and front companies. Treasury Secretary Scott Bessent stated that Iran’s government uses oil revenues to develop its nuclear program, produce ballistic missiles and drones, and finance regional terrorist proxy groups.

He said that the U.S. would aggressively target any financial sources that Iran uses to fund these activities. The sanctions were enforced under Executive Orders 13224 and 13902, which allow the U.S. Treasury to impose restrictions on key sectors of Iran’s economy.

The Treasury has already designated Sepehr Energy on November 29, 2023, for materially supporting Iran’s Ministry of Defense and Armed Forces Logistics, which was itself sanctioned in 2019.

On October 11, 2024, the Treasury Secretary iden…

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