US sanctions twelve entities for sales of Iranian oil to China
The Treasury Department targeted IRGC officials and front companies across Hong Kong, the UAE, and Oman as part of the 'Economic Fury' campaign against Iran's oil revenue.
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Add us on Google by Editorial Team May. 13, 2026The US Treasury Department’s Office of Foreign Assets Control just added twelve names to its sanctions list, all tied to a network that funneled Iranian oil to Chinese buyers. The targets include three senior officials from the IRGC’s Shahid Purja’fari Oil Headquarters and nine companies that served as the logistical plumbing for the operation.
The action is part of the Trump administration’s broader “Economic Fury” strategy, a campaign designed to choke off the financial oxygen that fuels Iran’s nuclear ambitions and its support for terrorist organizations. The timing is notable: President Trump is planning a visit to Beijing, where pressing China to crack down on illicit Iranian oil imports is expected to be on the agenda.
Who got sanctioned and why
The three individuals named are Ahmad Mohammadi Zadeh, Samad Fathi Salami, and Mohammadreza Ashrafi Ghehi. All three are connected to an entity called Golden Globe, which has previously been targeted by US sanctions. Together, they reportedly handled hundreds of millions of dollars annually through that operation.
The nine companies on the list include Hong Kong Blue Ocean Limited, Ocean Allianz Shipping LLC, and Zeus Logistics Group. These firms were implicated in managing oil shipments worth tens of millions of dollars in 2025 alone.
Front companies based in Hong Kong, the UAE, and Oman served as masks, hiding the IRGC’s fingerprints on oil trades that moved crude from Iranian ports to Chinese refineries.
The bigger picture
The US has been steadily escalating pressure on Iran’s oil sector since withdrawing from the Joint Comprehensive Plan of Action in 2018, targeting shadow fleets, brokers, and front companies. In 2025, China remained Iran’s primary oil buyer, importing approximately 1.5 million barrels per day, with significant revenue funneled to proxy groups involved in regional conflicts.
Golden Globe had already been sanctioned previously. The fact that OFAC came back for another round, this time targeting the individuals running the operation, suggests the initial designations didn’t fully shut things down.
Recent moves under the Economic Fury campaign include a $15 million bounty offered for intelligence related to IRGC finances, plus earlier sanctions targeting Iran’s weapons procurement networks.
What this means for crypto and financial markets
This particular sanctions action has no direct connection to crypto. Searches through major crypto data sources turned up no ties between the twelve sanctioned entities and any blockchain protocols or digital asset platforms. No wallets flagged. No on-chain activity identified.
OFAC sanctioned Tornado Cash in 2022 for facilitating North Korean money laundering, demonstrating the agency’s willingness to target privacy-focused financial tools when they appear in illicit supply chains.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
