United States imposes new sanctions over Iranian oil shipments to China

(Patria) - The US government has announced sanctions against three individuals and nine companies, including four based in Hong Kong and four in the United Arab Emirates, for aiding Iranian oil shipments to China, Reuters reported.

The ninth company is based in Oman.

The Treasury Department's move followed sanctions announced on Friday against individuals and companies that assist Iran's purchase of weapons and components used in the production of drones and ballistic missiles.

This comes days before a planned meeting between US President Donald Trump and Xi Jinping, where he is expected to pressure the Chinese leader to help resolve the standoff with Iran and reopen the Strait of Hormuz.

The Treasury Department stated that the new provisions of the Office of Foreign Assets Control are aimed at individuals and entities that have assisted Iran's Islamic Revolutionary Guard Corps in selling and delivering Iranian oil to China using a network of front companies in permissive economic jurisdictions.

Treasury Secretary Scott Bessent said the Trump administration will continue to increase pressure on Tehran to deprive the Iranian government and military of funding for weapons, its nuclear program, or support for proxies in the region.

"The Treasury Department will continue to sever the Iranian regime from the financial networks it uses to carry out acts of terror and destabilize the global economy," Bessent said.