Treasury’s Office of Foreign Assets Control (OFAC) designated nearly two dozen companies across multiple jurisdictions for facilitating Iran’s illicit international oil trade, which funds the country’s military and terrorist proxies.
According to OFAC, billions of dollars in Iranian oil revenues are funneled annually to the Armed Forces General Staff (AFGS), financing ballistic missile development, UAV production, and terrorist organizations. The sanctioned entities span front companies, shipping operators, and trade facilitators involved in oil sales primarily to China.
“These designations target the financial lifeline of Iran’s destabilizing military operations,” said Treasury Secretary Scott Bessent. “We will continue to cut off revenue streams used to fund terrorism and weapons proliferation.”
The designations were made under Executive Order (E.O.) 13224, as amended, and align with National Security Presidential Memorandum-2 directing maximum economic pressure on Iran.
Key Designations:
• Sepehr Energy Jahan Nama Pars Co. (Iran) and its controlled entities in Hong Kong—Xin Rui Ji Trad Co., Star Energy International, Milen Trading—and individuals including Elyas Nirumand Toomaj and Mohammad Khorasani Niasari.
• CCIC Singapore PTE Ltd and Huangdao Inspection and Certification Co., Ltd for concealing Iranian oil origins during ship-to-ship transfers.
• Qingdao Linkrich International Shipping Agency, along with six additional trade intermediaries in Hong Kong, Singapore, and China’s Shandong Province, for facilitating final deliveries to independent “teapot” refineries.
• Maritime operators Nanhai Limited, Forsal Chartering Corporation, and Fine Sanmata Shipping, along with tankers BALU and ROC, used by Sepehr Energy’s “shadow fleet” to evade sanctions.
The designations block all U.S.-based property and interests and prohibit transactions with U.S. persons.
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