US sanctions twelve entities for sales of Iranian oil to China

The US Treasury Department has sanctioned twelve entities, including three senior IRGC officials and nine companies, for their involvement in a network that facilitated the sale of Iranian oil to China. This action is part of the Trump administration's "Economic Fury" strategy aimed at cutting off financial resources for Iran's nuclear program and support for terrorist organizations. The sanctions come ahead of President Trump's visit to Beijing, where he is expected to pressure China on illicit Iranian oil imports. The sanctioned individuals and companies, including Golden Globe, were reportedly involved in handling hundreds of millions of dollars annually through these illicit oil trades. Front companies in Hong Kong, the UAE, and Oman were used to mask the IRGC's involvement. This escalation follows previous US efforts to pressure Iran's oil sector since 2018, with China remaining Iran's primary oil buyer. The article notes no direct connection between these sanctioned entities and cryptocurrency markets.

(Source：Crypto Briefing)