Washington, DC – Web Desk: The United States has intensified its economic pressure on Iran by imposing new sanctions on 35 entities and individuals allegedly involved in supporting Iran’s banking system and oil trade, officials said Tuesday.
According to the US Department of the Treasury, the designated network played a key role in facilitating billions of dollars worth of Iranian oil shipments and financial transactions aimed at bypassing existing US sanctions.
The Treasury’s Office of Foreign Assets Control (OFAC) warned that banks and financial institutions continuing to do business with these sanctioned companies—including those involved in payment systems through the Strait of Hormuz—could also face punitive actions.
US officials specifically cited oil refineries based in China’s Shandong province, saying several private companies there have been actively involved in importing and refining Iranian crude oil.
The latest sanctions package targets a mix of front companies, shipping intermediaries, and individual brokers who have allegedly helped Tehran evade oil export restrictions. While the statement did not name all 35 entities, officials confirmed that the measures aim to cut off revenue streams that Iran uses to fund regional proxy groups and its nuclear program.
Neither Iran nor China has officially responded to the new US sanctions. Iran has previously denied seeking nuclear weapons and has condemned US sanctions as economic warfare.
The move comes as Washington continues to push for stricter enforcement of oil embargoes amid heightened tensions in the Middle East.
