The U.S. Treasury Department sanctioned nine companies, including four each based in Hong Kong and the United Arab Emirates, for helping Iran ship oil to China, according to a Monday press release.
Hong Kong-based Hong Kong Blue Ocean, Hong Kong Sanmu, Jiandi HK, and Max Honor International Trade helped Golden Globe, said to be a cover company arranging oil sales for Iran, the Office of Foreign Assets Control said.
UAE-based Ocean Allianz Shipping, Atic Energy FZE, Blanca Goods Wholesaler, and Universal Fortune Trading, as well as Oman's Zeus Logistics, also helped the Islamic Revolutionary Guard Corps with oil purchases.
The U.S. Treasury "will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy," Secretary Scott Bessent said in a statement.