The U.S. Treasury Department has imposed financial sanctions on an international network accused of shipping Iranian oil to China, officials said on Thursday.
The sanctions target entities and individuals in China, India, and the United Arab Emirates (UAE), as well as several oil tankers involved in the trade. The Treasury said the oil sales generate billions of dollars each year for Iran to build its military and support terrorist proxies such as Hamas, Hezbollah, and the Houthis.
The oil was shipped on behalf of Iran’s Armed Forces General Staff and a front company called Sepehr Energy. Treasury officials said Sepehr used deceptive tactics such as falsified maritime documents to conceal the oil’s Iranian origin before selling it to international buyers, including China….