US expands sanctions over Iran-linked oil shipments to China
Washington has sanctioned three people and nine firms accused of helping Iran’s IRGC ship oil to China through front companies, ahead of Trump’s planned meeting with Xi Jinping.
The United States on Monday (May 11) announced sanctions against three individuals and nine companies for allegedly helping Iran ship oil to China. The targeted companies include four based in Hong Kong, four in the United Arab Emirates and one in Oman.
According to Reuters, the US Treasury’s move follows sanctions announced on Friday (May 8) against individuals and firms accused of assisting Iranian purchases of weapons and components used to produce drones and ballistic missiles.
The action comes days before US President Donald Trump’s planned meeting with Chinese President Xi Jinping, where he is expected to press Beijing to help resolve the stand-off with Iran and reopen the strategically important Strait of Hormuz.
The US Treasury said the latest designations by the Office of Foreign Assets Control (OFAC) targeted individuals and entities accused of helping Iran’s Islamic Revolutionary Guard Corps (IRGC) sell and ship its allocated share of Iranian oil to China through a network of front companies.
Treasury Secretary Scott Bessent said the Trump administration would continue using sanctions to deprive Iran’s government and military of funding for weapons, its nuclear programme and support for regional proxy groups.
“Treasury will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilise the global economy,” Bessent said.
The US State Department also announced a reward of up to US$15 million for information leading to the disruption of the IRGC’s financial mechanisms. Washington has designated the IRGC and its branches as terrorist organisations.
The Treasury said the IRGC relies on shell companies to arrange and receive payment for its allocated share of Iranian oil shipments. It added that Monday’s action builds on sanctions imposed in July 2025 on Golden Globe, a Turkey-based company which, according to the Treasury, handles hundreds of millions of dollars in IRGC oil sales each year.
The three individuals sanctioned by the United States work for the IRGC’s Shahid Purja’fari oil headquarters, where they coordinate payments through Golden Globe, the Treasury said.
Companies in Hong Kong, UAE and Oman targeted
The companies targeted include Hong Kong-based Hong Kong Blue Ocean Ltd and Hong Kong Sanmu Ltd, both described by the Treasury as front companies involved in arranging the sale and shipment of Iranian oil.
Dubai-based Ocean Allianz Shipping LLC and Sharjah-based Atic Energy FZE were also sanctioned for allegedly facilitating Iranian oil shipments on five sanctioned shadow-fleet tankers in 2025.
Oman-based Zeus Logistics Group was accused of arranging vessels to carry Iranian oil cargoes.
The Treasury also named Hong Kong-based Jiandi HK Ltd, which it said had signed an agreement with the IRGC to purchase tens of millions of dollars’ worth of Iranian oil.
Hong Kong-based Max Honor International Trade Co Ltd was accused of buying millions of barrels of Iranian oil from the IRGC in 2025.
Other companies targeted include Dubai-based Blanca Goods Wholesaler LLC and Universal Fortune Trading LLC. The Treasury said Universal Fortune Trading had also been used as a front company by the National Iranian Oil Company (NIOC).
