Background on the Situation
The US Department of the Treasury announced on Tuesday the imposition of sanctions against more than 20 Iranian companies linked to the Islamic Revolutionary Guard Corps (IRGC) and accused of supplying Iranian oil to refineries in China worth millions of dollars.
Key Players and Their Roles
The Office of Foreign Assets Control (OFAC), a division of the Treasury Department, sanctioned these “front companies” established by the IRGC’s General Staff and its primary commercial subsidiary, Sepehr Energy, which was already sanctioned by US authorities in November 2023 for selling and shipping crude oil to Pekín. These activities reportedly finance the IRGC’s military and terrorist endeavors.
Additional Sanctions
In a statement released on its website, the Treasury confirmed it also sanctioned an Iranian national for his role as an inspector of Sepehr Energy and its associated companies.
Statement from the Treasury Secretary
Scott Bessent, the Treasury Secretary, emphasized that these sanctions aim to “intensify pressure on all aspects of Iran’s oil trade, which the regime uses to fund its dangerous and destabilizing activities.” He further assured that the US will continue targeting this primary source of income as long as the regime supports terrorism and the proliferation of deadly weapons.
Scope of Sanctions
Since the beginning of the year, over 250 individuals, entities, and vessels “related to Tehran and its allies” have been sanctioned by the Trump administration, according to the press release.
Key Questions and Answers
- Who imposed the sanctions? The US Department of the Treasury, specifically through its Office of Foreign Assets Control (OFAC).
- Which Iranian companies are sanctioned? More than 20 companies linked to the Islamic Revolutionary Guard Corps (IRGC) accused of supplying oil to China.
- What is the purpose of these sanctions? To intensify pressure on Iran’s oil trade, which the regime uses to fund dangerous and destabilizing activities.
- Who else was sanctioned? An Iranian national serving as an inspector for Sepehr Energy and its associated companies.
- How many individuals, entities, and vessels have been sanctioned since the beginning of the year? Over 250 related to Tehran and its allies.
