As Iran’s military desperately tries to regroup, Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies, and nuclear ambitions. 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.
Today, Treasury’s Office of Foreign Assets Control is designating 12 individuals and entities for their roles enabling the Islamic Revolutionary Guard Corps’ (IRGC) sale and shipment of Iranian oil to the People’s Republic of China. The IRGC relies on front companies in permissive economic jurisdictions to obfuscate its role in oil sales and funnel the revenue to the Iranian regime. Instead of using this revenue to support the struggling Iranian people, the regime directs it toward weapons development, backing terrorist proxies, and funding security forces that suppress citizens’ freedoms.