The U.S. Department of the Treasury has announced financial sanctions against a network supplying Iranian oil to China. This is the first financial sanction imposed under U.S. President Donald Trump’s new administration, announced on Thursday.
In a statement, the U.S. Treasury Department said the sanctions target an international network that funds Tehran’s military activities. This network has been accused of supplying Iranian oil to China.
The statement further mentioned that the targeted network facilitated shipments of millions of dollars worth of Iranian crude oil to China.
The oil was sent to China on behalf of an authorized company named Sepehr Energy Jahan Nama Pars, which is linked to the General Staff of Iran’s Armed Forces.
U.S. Commerce Secretary Scott Basent stated that Iran’s government continues to focus on generating oil revenue to develop its nuclear program, produce lethal ballistic missiles and unmanned vehicles, and support its regional proxy groups.
He warned that the United States is committed to aggressively targeting any Iranian efforts to finance such harmful activities.
Since coming to power, Donald Trump has adopted a maximum pressure policy to curb Iran’s nuclear program. The U.S. Treasury Department confirmed that the sanctions were imposed in line with that policy.