CrudeTuesday, 12 May 2026·India
US Announces New Sanctions Over Iranian Crude Shipments to China
The United States has introduced a new round of sanctions targeting individuals and companies allegedly involved in facilitating Iranian crude oil exports to China through networks connected to the Islamic Revolutionary Guard Corps (IRGC).
According to reports, the sanctions cover three individuals and nine companies operating across multiple countries. The affected firms include four companies based in Hong Kong, four in the United Arab Emirates, and one in Oman.
US authorities stated that these entities were involved in arranging oil transactions, shipping operations, and payment activities linked to Iranian crude exports. The network reportedly used front companies and previously sanctioned “shadow fleet” tankers to move cargoes and handle financial transactions.
The latest measures come ahead of an expected meeting between US President Donald Trump and Chinese President Xi Jinping, where discussions are likely to include Iran and the ongoing situation surrounding the Strait of Hormuz.
Washington said the sanctions are part of broader efforts to limit financial flows connected to Iran’s military operations, nuclear activities, and regional allied groups.
According to the US Treasury Department, several of the sanctioned companies played a role in purchasing or transporting millions of barrels of Iranian crude oil during 2025. Authorities also accused certain firms based in Dubai and Hong Kong of acting as intermediary or cover companies linked to the IRGC and the National Iranian Oil Company (NIOC).
In a separate announcement, the US State Department said it is offering a reward of up to $15 million for information that could help disrupt the financial operations of the IRGC network.
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According to reports, the sanctions cover three individuals and nine companies operating across multiple countries. The affected firms include four companies based in Hong Kong, four in the United Arab Emirates, and one in Oman.
US authorities stated that these entities were involved in arranging oil transactions, shipping operations, and payment activities linked to Iranian crude exports. The network reportedly used front companies and previously sanctioned “shadow fleet” tankers to move cargoes and handle financial transactions.
The latest measures come ahead of an expected meeting between US President Donald Trump and Chinese President Xi Jinping, where discussions are likely to include Iran and the ongoing situation surrounding the Strait of Hormuz.
Washington said the sanctions are part of broader efforts to limit financial flows connected to Iran’s military operations, nuclear activities, and regional allied groups.
According to the US Treasury Department, several of the sanctioned companies played a role in purchasing or transporting millions of barrels of Iranian crude oil during 2025. Authorities also accused certain firms based in Dubai and Hong Kong of acting as intermediary or cover companies linked to the IRGC and the National Iranian Oil Company (NIOC).
In a separate announcement, the US State Department said it is offering a reward of up to $15 million for information that could help disrupt the financial operations of the IRGC network.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.