The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today designated 12 individuals and entities for enabling the Islamic Revolutionary Guard Corps' (IRGC) sale and shipment of Iranian oil to the People's Republic of China. This action aims to disrupt a key revenue stream for the Iranian regime.
The IRGC uses front companies to obscure its role in oil sales, funneling revenue to the Iranian regime. This funding supports weapons development, terrorist proxies, and security forces that suppress citizens, rather than benefiting the Iranian people.
Secretary of the Treasury Scott Bessent stated, "As Iran’s military desperately tries to regroup, Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies, and nuclear ambitions." He added that Treasury would continue to cut the Iranian regime off from financial networks used for terrorist acts and global economic destabilization.
This action, under Executive Order (E.O.) 13224, targets terrorist groups and their supporters. The Treasury Department maintains maximum pressure on Iran, having previously disrupted billions in projected oil revenue, frozen nearly half a billion dollars in regime-linked cryptocurrency, and cracked down on Tehran’s shadow banking networks. The Trump Administration directly targets the regime's primary revenue stream.
Among those designated are Iran-based Ahmad Mohammadi Zadeh, chief of the IRGC Shahid Purja’fari Oil Headquarters; Samad Fathi Salami, its finance chief; and Mohammadreza Ashrafi Ghehi, its commercial chief. They are accused of coordinating payments and resolving debts for IRGC oil sales through cover companies like Golden Globe.
Entities designated for materially assisting the IRGC include Hong Kong Blue Ocean Limited and Hong Kong Sanmu Limited, which facilitated multi-million dollar oil shipments in 2025 using sanctioned tankers. Other entities involved in facilitating Iranian oil shipments or deals include Dubai-based Ocean Allianz Shipping LLC, Sharjah-based Atic Energy FZE, Oman-based Zeus Logistics Group, Hong Kong-based Jiandi HK Limited and Max Honor International Trade Co., Limited, and Dubai-based Blanca Goods Wholesaler LLC and Universal Fortune Trading LLC.
These designations mean all property and interests of the blocked persons in the U.S. or under U.S. persons' control are blocked and must be reported. U.S. persons are generally prohibited from transactions with these entities, with potential civil or criminal penalties. Foreign financial institutions facilitating Iran's activities, including those connected to China's "teapot" oil refineries, may also face secondary sanctions. The ultimate goal of sanctions is to bring about a positive change in behavior.