U.S. targets IRGC-linked oil network in new Iran sanctions action

WASHINGTON, May 11, 2026 — The U.S. Treasury’s Office of Foreign Assets Control imposed new sanctions on a network tied to Iran’s Islamic Revolutionary Guard Corps, adding three individuals and nine entities to the Specially Designated Nationals list in an action aimed at the group’s oil sales and shipping operations.

Treasury said the targets enabled the IRGC’s sale and shipment of Iranian oil to buyers in China and used front companies in overseas jurisdictions to obscure the group’s role and move revenue back to the Iranian regime. Treasury Secretary Scott Bessent said the campaign, branded “Economic Fury,” would continue to cut off funding for Iran’s weapons programs, proxy groups and nuclear ambitions.

The OFAC action names Iran-based officials Ahmad Mohammadi Zadeh, Samad Fathi Salami and Mohammadreza Ashrafi Ghehi, alongside companies in Hong Kong, Dubai, Sharjah and Muscat. Treasury said several of the firms helped arrange oil deals or shipments in 2025 using sanctioned tankers, while Universal Fortune Trading LLC was also described as a front company used by the National Iranian Oil Company.

Among the entities listed were Hong Kong Blue Ocean Limited, Hong Kong Sanmu Limited, Jiandi HK Limited, Max Honor International Trade Co., Limited, Ocean Allianz Shipping LLC, Atic Energy FZE, Blanca Goods Wholesaler LLC, Zeus Logistics Group and Universal Fortune Trading LLC. OFAC said the action was taken under Executive Order 13224, the counterterrorism authority used against the IRGC and its supporters.

Treasury said the move builds on a July 2025 action targeting Golden Globe Demir Celik Petrol Sanayi ve Ticaret Anonim Sirketi, which it described as a key cover company used to arrange IRGC oil sales. The department said the latest designations are part of a broader maximum-pressure effort to curb Iran’s ability to generate, move and repatriate funds.