Treasury sanctions network accused of helping IRGC sell Iranian oil to China

The Treasury Department’s Office of Foreign Assets Control on Monday announced new sanctions on 12 individuals and entities accused of helping Iran’s Islamic Revolutionary Guard Corps sell and transport oil to China through a network of front companies.

The sanctions, part of what has been labeled “Economic Fury,” target people and companies that officials say enabled the Guard to disguise its role in Iranian oil shipments and funnel proceeds back to the country through shell firms based in Hong Kong, Dubai, and Oman, a Treasury official told the Washington Examiner.