US imposes new sanctions over Iran oil shipments to China

The United States on Monday imposed sanctions on three indi and nine companies accused of helping Iran ship oil to China, the latest move by the Trump administration to cut off revenue to Tehran.

The sanctions target four companies based in Hong Kong, four in the United Arab Emirates and one in Oman, along with three individuals linked to the oil operations of Iran’s Islamic Revolutionary Guard Corps (IRGC).

The US Treasury Department said the entities helped the IRGC sell and transport Iranian crude to China through a network of front companies and shadow fleet tankers.

Treasury Secretary Scott Bessent said Washington would continue using sanctions to deny Iran funds for its military, nuclear programme and regional allies.

The State Department also announced a reward of up to $15 million for information that disrupts the IRGC’s financial networks.

The measures come ahead of US President Donald Trump’s planned meeting with Chinese President Xi Jinping, where Iran and the Strait of Hormuz are expected to be key topics.