US sanctions firms and individuals over Iranian oil shipments to China
The US Treasury sanctioned entities and individuals involved in smuggling Iranian oil to China to curb IRGC military funding.Summary
The US Treasury Department has imposed sanctions on three individuals and nine companies linked to a network facilitating the illegal transport of Iranian oil to China. Operating through locations like Hong Kong, the UAE, and Oman, these entities utilized front companies and illicit shipping methods to bypass existing restrictions. The objective of these sanctions is to disrupt the financial networks supporting the IRGC's military activities. Additionally, the US has offered a $15 million reward for information regarding IRGC financial operations, signaling a continued effort to track and dismantle these illicit supply chains, despite the current lack of direct involvement by cryptocurrency assets in this specific case.
(Source：Crypto Briefing)