• The US government imposed sanctions on three individuals and nine companies for helping Iran export oil to China.
  • The sanctions target a network of shell companies that assisted Iran’s Islamic Revolutionary Guard Corps (IRGC) in selling and transporting Iranian oil.
  • Among the sanctioned entities are four based in Hong Kong and four in the United Arab Emirates.
  • Treasury Secretary Scott Bessent said the US will continue using sanctions to deny the Iranian regime funds.
  • The State Department offered a reward of up to $15 million for information disrupting IRGC financial mechanisms.
  • The move comes ahead of a planned meeting between Donald Trump and Xi Jinping.

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