US imposes sanctions on companies aiding Iran’s oil shipments to China
Crypto Briefing
The US sanctioned 13 vessels and 8 entities for facilitating Iranian oil shipments to China to evade international restrictions.Summary
The US Treasury Department has sanctioned 13 vessels and 8 entities linked to the Islamic Revolutionary Guard Corps for their role in moving Iranian oil to China. These actions target illicit networks that generated an estimated $35 billion in revenue last year. The article highlights the use of 'ghost fleets' to bypass sanctions and notes that sanctioned entities are increasingly utilizing cryptocurrencies, such as Tether, and Bitcoin mining to facilitate international trade while avoiding dollar-denominated banking systems. Consequently, the US government is ramping up enforcement, which is simultaneously driving increased demand for blockchain analytics and compliance services among institutional investors.
(Source：Crypto Briefing)