US targets front companies selling Revolutionary Guards oil to China

The US Treasury designated 12 individuals and entities it says help Iran's Revolutionary Guards sell and ship oil to China through front companies in permissive jurisdictions. Treasury argues the revenue funds weapons, armed proxies and internal security forces. Vessels named in the action include Bella 1 and Skipper, both seized by the US the previous winter, as well as Gagan, Cangjie and Hasna. Secretary Scott Bessent said Economic Fury would keep depriving Iran of funds as its military tried to regroup.

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