Treasury Department sanctions over 20 companies it says gave Iranian oil to China
The Treasury Department announced on Tuesday that it has sanctioned a network of over 20 companies it says have supplied Iranian oil to China.
The department's Office of Foreign Assets Control (OFAC) sanctioned nearly two dozen firms on Tuesday that, it says, have assisted in dispatching billions of dollars' worth of oil to Beijing for Iran's armed forces general staff and Sepehr Energy, its primary commercial affiliate.
'Today's action underscores our continued focus on intensifying pressure on every aspect of Iran's oil trade, which the regime uses to fund its dangerous and destabilizing activities,' Treasury Secretary Scott Bessent said in a statement.
'The United States will continue targeting this primary source of revenue, so long as the regime continues its support for terrorism and proliferation of deadly weapons,' Bessent added.
The department imposed sanctions on Huangdao Inspection and Certification Co., stating they have been providing oil cargo inspection services to ships already sanctioned for carrying Iranian oil.
CCIC Singapore PTE, an export company, was also on the list. The OFAC said CCIC Singapore PTE has assisted Sepehr in delivering inspections needed before the oil is transferred to China and in helping it hide where the oil originated.
Qingdao Linkrich was also slapped with sanctions, with OFAC stating that it helped Sepehr Energy-chartered vessels with discharge and arrival at Qingdao Port in China.
State Department spokesperson Tammy Bruce said the revenue from the sale of the of the oil funds helped in development of 'ballistic missiles and unmanned aerial vehicles (UAVs), nuclear proliferation, and Iran's terrorist proxies, including the Houthis' attacks on Red Sea Shipping, the U.S. Navy, and Israel.'
'The United States will continue to take action in support of National Security Presidential Memorandum 2, which imposes maximum pressure on the Iranian regime to deny it access to resources that sustain its destabilizing activities,' Bruce added.
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