US Treasury Sanctions 12 Entities for Enabling IRGC Oil Sales to China

On May 12, 2026, the US Treasury designated 12 entities for facilitating Islamic Revolutionary Guard Corps oil sales to China as part of the Trump administration's Economic Fury maximum pressure campaign. The designations target companies across Hong Kong, Dubai, Sharjah, and Oman, and warn of potential secondary sanctions on foreign financial institutions, including those connected to China's independent teapot refineries. The campaign has disrupted billions in projected Iranian oil revenue.

Treasury sanctions announcement

• ▪The US Department of the Treasury's Office of Foreign Assets Control announced on May 12, 2026 that it was designating 12 individuals and entities for their roles enabling the Islamic Revolutionary Guard Corps to sell and ship Iranian oil to China
• ▪US Treasury Secretary Scott Bessent said the designations were aimed at depriving Iran's military of funding as it attempts to regroup
• ▪The May 12, 2026 Treasury designations are part of the Trump administration's ongoing 'Economic Fury' maximum pressure campaign against Tehran

IRGC oil network operations

• ▪Golden Globe Demir Celik is a cover company used by the IRGC's Shahid Purja'fari Oil Headquarters that was previously sanctioned in July 2025
• ▪Hong Kong Blue Ocean Limited and Hong Kong Sanmu Limited are cover companies involved in multiple IRGC oil shipments worth tens of millions of dollars in 2025
• ▪The IRGC's Shahid Purja'fari Oil Headquarters coordinated payments and managed foreign currency for the IRGC through a network of front companies

Designated entities

• ▪Atic Energy FZE is a Sharjah-based company designated on May 12, 2026 for facilitating IRGC oil shipments
• ▪Ocean Allianz Shipping LLC is a Dubai-based company designated on May 12, 2026 for facilitating IRGC oil shipments
• ▪Universal Fortune Trading LLC is a Dubai-based company designated on May 12, 2026 for providing support to the National Iranian Oil Company
• ▪Zeus Logistics Group is an Oman-based company designated on May 12, 2026 for facilitating IRGC oil shipments
• ▪Nine companies operating across Hong Kong, Dubai, Sharjah, and Oman were designated on May 12, 2026 for facilitating IRGC oil shipments

Designated individuals

• ▪Ahmad Mohammadi Zadeh is the chief of the IRGC's Shahid Purja'fari Oil Headquarters and was designated on May 12, 2026

Economic Fury campaign impact

• ▪US Treasury Secretary Scott Bessent stated that the US Treasury will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy
• ▪The US Treasury has frozen nearly half a billion dollars in Iranian regime-linked cryptocurrency through the Economic Fury campaign
• ▪The US Treasury has cracked down on Tehran's shadow banking networks through the Economic Fury campaign
• ▪US Treasury Secretary Scott Bessent stated that Economic Fury will continue to deprive the Iranian regime of funding for its weapons programs, terrorist proxies, and nuclear ambitions
• ▪The US Treasury has disrupted billions in projected Iranian oil revenue through the Economic Fury campaign

Secondary sanctions warning

• ▪The US Treasury is prepared to impose secondary sanctions on foreign financial institutions facilitating Iran's activities, including those connected to China's independent 'teapot' oil refineries
• ▪The US Treasury warned that any person or vessel facilitating the illicit trade of oil or other commodities through covert trade or financial channels risks exposure to US sanctions