US Sanctions 12 Linked to IRGC Oil Network to China

The U.S. Treasury’s Office of Foreign Assets Control added 12 individuals and companies to its sanctions list for roles in an Islamic Revolutionary Guard Corps-run oil network that moved Iranian crude to Chinese buyers.

OFAC identified three Iranian officials as Ahmad Mohammadi Zadeh, Samad Fathi Salami and Mohammadreza Ashrafi Ghehi. The agency said the three operated through an entity called Golden Globe and handled hundreds of millions of dollars annually. OFAC named nine companies involved in the operation, including Hong Kong Blue Ocean Limited, Ocean Allianz Shipping LLC and Zeus Logistics Group, and said the firms managed oil shipments valued at tens of millions of dollars in 2025.

According to Treasury notices, front companies based in Hong Kong, the United Arab Emirates and Oman were used to conceal IRGC involvement while crude moved from Iranian ports to Chinese refineries. The designations target the individuals who ran the operation and the corporate network that provided logistical and shipping support.

The action is part of the administration’s “Economic Fury” campaign, a series of measures aimed at restricting financial flows associated with Iran’s security activities. The Treasury said the designations follow years of stepped-up pressure on Iran’s oil sector after the U.S. left the 2015 nuclear agreement in 2018. U.S. estimates cited by officials put China’s imports from Iran at roughly 1.5 million barrels per day in 2025.

Treasury documents note Golden Globe had been sanctioned previously. OFAC indicated earlier measures did not fully stop the trade and that targeting operators and the corporate network was intended to further limit the movement and sale of Iranian crude.

Other recent actions under the campaign include a $15 million reward for information on IRGC financial networks and sanctions focused on weapons procurement pathways and shadow shipping fleets. The Treasury cited its prior use of sanctions against a blockchain mixer in 2022 for alleged money-laundering tied to North Korea as an example of enforcing measures beyond traditional targets. For the current designations, Treasury checks of major crypto data sources found no links between the 12 sanctioned parties and blockchain protocols or flagged wallets.

The sanctions freeze any U.S.-linked assets of the named parties and prohibit U.S. persons from engaging with them. Treasury officials said the measures are intended to disrupt the logistical chain that moved crude to Chinese buyers and to complicate efforts to convert oil sales into revenue that could support Iran’s security and foreign activities.