Fresh Iran Oil Sanctions

Posted 2/6/25

Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on an international oil smuggling network that has facilitated the shipment of millions of barrels of Iranian crude oil, worth hundreds of millions of dollars, to the People’s Republic of China (PRC).

This action aligns with the February 4 National Security Presidential Memorandum, which mandates maximum economic pressure on Iran to prevent its nuclear advancement and regional destabilization.

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