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U.S. Treasury Sanctions More than 20 Entities for Helping Sell Iranian Oil

IRAN, JUL 9 – The U.S. Treasury identified 22 entities enabling Iranian oil sales that fund the IRGC-Qods Force, which supports terrorist activities and weapons programs, officials said.

  • On Wednesday, the U.S. Department of the Treasury's OFAC designated 22 entities in Hong Kong, UAE, and Turkey for facilitating Iranian oil sales funding the IRGC-QF.
  • The IRGC-Qods Force used front companies and offshore accounts to transfer hundreds of millions from Iranian oil sales via a shadow banking system, evading sanctions.
  • OFAC designated 22 entities in Hong Kong, Turkey, and the UAE for facilitating Iranian oil sales funding the IRGC-QF, highlighting a sophisticated evasion network.
  • Immediately after the sanctions, violators face penalties, disrupting Iran's weapons and proxy funding, as Treasury confirms.
  • The sanctions coincide with upcoming nuclear talks in Oslo and mark a second wave under Trump's maximum pressure campaign, aiming to counter Iran's evasion tactics.
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On Wednesday, the U.S. Treasury Department has issued a new package of sanctions against more than twenty entities in Hong Kong, the UAE and Turkey for their connection with the sale of Iranian oil, which would benefit the Quds Force of Iran's Revolutionary Guard.

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Business Fast broke the news in on Wednesday, July 9, 2025.
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