The U.S. Treasury Department has imposed sanctions on a network of entities and individuals allegedly involved in shipping Iranian oil to China. The sanctions target companies and individuals in China, India, the UAE, and several vessels, accusing them of facilitating millions of barrels of oil worth hundreds of millions of dollars on behalf of Iran's Armed Forces General Staff.
The U.S. Treasury Department imposed sanctions on Thursday on an international network accused of facilitating the shipment of Iran ian oil to China. The sanctions target entities and individuals in China, India, and the United Arab Emirates, as well as several vessels. According to the Treasury, this network has facilitated the shipment of millions of barrels of Iran ian oil worth hundreds of millions of dollars to China.
The oil was shipped on behalf of Iran's Armed Forces General Staff and a front company named Sepehr Energy. These sanctions come two days after President Donald Trump signed a memorandum imposing 'maximum pressure' on the Islamic Republic. This memorandum directed the Treasury and State departments to take action to drive Iran's oil exports to zero. Treasury Secretary Scott Bessent accused Iran in a statement Thursday of using its oil revenues to fund the development of a nuclear program, produce ballistic missiles and unmanned aerial vehicles, and support terrorist groups in the Middle East. Iran has said it is not seeking to build nuclear weapons. 'The United States is committed to aggressively targeting any attempt by Iran to secure funding for these malign activities,' Bessent said. Sanctioned companies include Marshal Ship Management Private Limited based in India with offices in the UAE, Ocean Dolphin Ship Management and Gozoso Group in Hong Kong, Miletus Line based in the Seychelles, and Umbra Navi Ship Management Corp. based in Kazakhstan but registered in the Seychelles. Several subsidiaries of Sepehr Energy and executives at those subsidiaries were also sanctioned
IRAN OIL CHINA SANCTIONS US TREASURY
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