U.S. Intensifies Iranian Oil Sanctions Targeting China
The U.S. Treasury Department has imposed sanctions on over 20 companies involved in a network facilitating the sale of Iranian oil to China. These sanctions aim to curb Iran's revenue streams which fund ballistic missile and drone development, as well as support for terrorism.
The U.S. Treasury Department announced fresh sanctions targeting more than 20 companies involved in an extensive network transporting Iranian oil to China. This move arrives shortly after a successful round of nuclear negotiations between the United States and Iran.
The sanctions particularly affect firms like CCIC Singapore PTE and Huangdao Inspection and Certification Co. Ltd, accused of aiding Sepehr Energy by concealing the origin of the oil and providing essential inspection services needed for its shipping.
The U.S. asserts that revenue from these oil sales funds Iran's ballistic missile and drone projects, along with various acts of terror. Treasury Secretary Scott Bessent reiterated America's commitment to disrupting Iran's financial mechanisms that support such activities.
(With inputs from agencies.)
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