U.S. Sanctions 4 Hong Kong Companies Over Alleged Assistance in Iran's Oil Sales and Transport to China; Beijing: Firmly Opposes

The United States announced sanctions on 12 individuals and entities on Monday, accusing them of assisting Iran's Islamic Revolutionary Guard Corps (IRGC) in selling and transporting Iranian oil to China. The announcement comes as President Trump prepares to visit Beijing.

The U.S. Department of the Treasury issued a statement saying that its Office of Foreign Assets Control (OFAC) "designated 12 individuals and entities for their role in assisting the IRGC in selling and transporting Iranian oil to the People's Republic of China (PRC)."

The Treasury added, "The IRGC relies on front companies established in economically lenient regions to conceal its involvement in oil sales and channel revenues to the Iranian regime. Rather than using these funds to assist impoverished Iranians, the regime diverts them toward weapons development, supporting terrorist proxies, and funding security forces that suppress civil liberties."

U.S. Treasury Secretary Scott Bessent stated in a press release, "As Iran’s military struggles to regroup, the 'Economic Fury' initiative will continue to cut off funding to the Iranian regime’s weapons programs, terrorist proxies, and nuclear ambitions. The U.S. Department of the Treasury will persist in disrupting financial networks used by the Iranian regime to carry out terrorism and destabilize global economic stability."

This round of sanctions targeted three individuals based in Iran and nine companies, including four Hong Kong-based firms. The department noted, "HKBOL Limited and Hong Kong Sanmu Limited (HKSL), both headquartered in Hong Kong, are front companies," and were responsible for arranging the sale and transportation of Iranian oil to overseas buyers.

The U.S. Treasury said these two companies were involved in multiple shipments of IRGC-controlled oil last year, each worth tens of millions of dollars, including oil transported via several sanctioned tankers.

Additionally, the Treasury stated, "In mid-2025, Jiandi HK Limited, headquartered in Hong Kong, reached an agreement with the IRGC to purchase Iranian oil worth tens of millions of dollars. In the same year, Max Honor International Trade Co., also based in Hong Kong, purchased millions of barrels of Iranian oil from the IRGC."

All four Hong Kong companies are now subject to sanctions. Assets of the designated entities and individuals within the United States will be frozen, and all transactions between U.S. persons and entities and these sanctioned parties will be prohibited. Most of Iran’s oil exports go to Asia, with China being the largest importer. China remains the top trading partner of Iran.

At a regular press briefing on Tuesday, Chinese Foreign Ministry spokesperson Guo Jiakun responded to inquiries by stating, "China firmly opposes unilateral sanctions lacking legal basis under international law and unauthorized by the UN Security Council, and will resolutely safeguard the legitimate rights and interests of Chinese enterprises."

President Trump is scheduled to visit Beijing later this week, with a range of trade disputes set to be on the agenda. The Iran conflict will also be a key topic of discussion, as Washington seeks greater pressure from Beijing on Tehran.

Last Friday, the U.S. State Department announced sanctions against three Chinese companies, citing that their satellite imagery enabled Iran to target U.S. military forces stationed in the Middle East. Earlier, the U.S. Treasury also announced sanctions on 10 individuals and entities, many of which are based in China and Hong Kong.

Source: rfi

Original article: toutiao.com/article/1864975923544075/

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