6th February, 2025
By Kazeem Ugbodaga
The United States has imposed fresh sanctions on an international network accused of illicitly channeling revenue to Iran’s military through covert oil sales.
The U.S. Department of State, in a statement issued on Thursday, announced the measures targeting entities involved in the shipment of millions of barrels of Iranian oil to China, which allegedly funds Iran’s Armed Forces General Staff through the front company Sepehr Energy.
According to Department Spokesperson Tammy Bruce, proceeds from these sales have been used to support terrorist and proxy groups, including Hamas and Hizballah, as well as to advance Iran’s destabilizing regional activities.
In addition to sanctioning the revenue network, the U.S. also targeted shadow fleet vessels and management companies responsible for transporting Iranian oil, which Washington says facilitates Iran’s ability to finance destabilizing operations.
“We will disrupt illicit funding streams financing Iran’s armed forces and terrorist groups,” Bruce said. “We will use all tools at our disposal to hold the regime accountable for its destabilizing activities and pursuit of nuclear weapons that threaten the civilized world.”
The sanctions, issued under Executive Order (E.O.) 13224, as amended, and E.O. 13902, grant U.S. authorities the power to block financial transactions and freeze assets linked to Iran’s military and economic sectors.
The U.S. Treasury Department is expected to provide additional details regarding the affected entities and individuals.
