Economic Fury Ramps Up Pressure on Iran’s Islamic Revolutionary Guard Corps Oil Operations | U.S. Department of the Treasury

Economic Fury Ramps Up Pressure on Iran’s Islamic Revolutionary Guard Corps Oil Operations | U.S. Department of the Treasury Skip to main content Official websites use .gov A .gov website belongs to an official government organization in the United States. Secure .gov websites use HTTPS A lock ( Lock A locked padlock ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites. FREEDOM250 Countdown to America's 250th Anniversary July 4, 2026 Learn More Press Releases Economic Fury Ramps Up Pressure on Iran’s Islamic Revolutionary Guard Corps Oil Operations May 11, 2026 WASHINGTON— Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating 12 individuals and entities for their roles enabling the Islamic Revolutionary Guard Corps’ (IRGC) sale and shipment of Iranian oil to the People’s Republic of China.  The IRGC relies on front companies in permissive economic jurisdictions to obfuscate its role in oil sales and funnel the revenue to the Iranian regime.  Instead of using this revenue to support the struggling Iranian people, the regime directs it toward weapons development, backing terrorist proxies, and funding security forces that suppress citizens’ freedoms. “As Iran’s military desperately tries to regroup, Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies, and nuclear ambitions,” said Secretary of the Treasury Scott Bessent . “Treasury will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy.” Today’s action is being taken pursuant to the counterterrorism authority Executive Order (E.O.) 13224, as amended, which targets terrorist groups, their supporters, and those who aid in acts of terrorism.  The IRGC was designated pursuant to E.O. 13224 on October 13, 2017 for its support to the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).  The National Iranian Oil Company was also designated pursuant to E.O. 13224 on October 26, 2020 for its support to the IRGC-QF. ECONOMIC FURY DELIVERS MAXIMUM PRESSURE ON IRAN The Treasury Department is maintaining maximum pressure on Iran and targeting the regime’s ability to generate, move, and repatriate funds.  Treasury is aggressively advancing Economic Fury and has disrupted billions in projected oil revenue, taken actions that have led to the freezing of nearly half a billion dollars in regime-linked cryptocurrency, and cracked down on Tehran’s shadow banking networks.  Treasury has also sanctioned a corrupt Iraqi official who has facilitated the sale of oil along with Iran-backed militias operating in Iraq. Treasury will vigorously target both traditional sanctions evasion schemes and the exploitation of digital assets while continuing to freeze funds stolen from the Iranian people.  Treasury is also prepared to take action against any foreign company supporting illicit Iranian commerce, including airlines , and, as necessary, may impose secondary sanctions on foreign financial institutions that facilitate Iran’s activities—including those connected to the People’s Republic of China’s independent “teapot” oil refineries. Through the blockade, the Trump Administration is directly targeting the regime’s primary revenue stream.  Any person or vessel facilitating the illicit trade of oil or other commodities, through covert trade or financial channels, risks exposure to U.S. sanctions. INCREASING pressure on irgc cover companies The IRGC continues to rely on cover and shell companies in overseas jurisdictions to arrange and receive payment for sales of the IRGC’s allotment of Iranian oil.  This action builds on a July 2025 action targeting Golden Globe Demir Celik Petrol Sanayi ve Ticaret Anonim Sirketi (Golden Globe), an important cover company used in arranging the IRGC’s oil sales.  The individuals targeted today work for the IRGC’s Shahid Purja’fari Oil Headquarters, coordinating payments through Golden Globe and the entities included in this action. This action further exposes the IRGC’s use of front companies to launder funds received outside of Iran, and limits IRGC resources to support Iran’s terrorist partners. Iran-based Ahmad Mohammadi Zadeh is the chief of the IRGC Shahid Purja’fari Oil Headquarters and has actively worked to resolve debts owed by OFAC-sanctioned Haokun Energy Group., Ltd to the IRGC through cover company Golden Globe. Iran-based Samad Fathi Salami is the finance chief of IRGC Shahid Purja’fari Oil Headquarters and is responsible for managing financial issues for the IRGC, including handling foreign currency overseas. Iran-based Mohammadreza Ashrafi Ghehi , the commercial chief of the IRGC’s oil headquarters, also communicated with Haokun Energy regarding unresolved debts owed to the IRGC. Hong Kong-based Hong Kong Blue Ocean Limited (HKBOL) and Hong Kong Sanmu Limited (HKSL) are cover companies that serve a similar role to Golden Globe in arranging the sale and shipment of Iranian oil to overseas buyers.  In 2025, HKBOL and HKSL were involved in multiple shipments of IRGC oil each worth tens of millions of dollars, including shipments carried on sanctioned tankers GAGAN (IMO 9256468) , CANGJIE (IMO 9299680) , and HASNA (IMO 9212917) . Dubai-based Ocean Allianz Shipping LLC and Sharjah-based Atic Energy FZE also worked on behalf of the IRGC to facilitate shipments of Iranian oil on five sanctioned shadow fleet tankers in 2025: HANSON (IMO 9237412) , OTLA (IMO 9299719) , SCALER (IMO 9254915) , BELLA 1 (IMO 9230880) , and ANDROMEDA V (IMO 9197832) .  Oman-based Zeus Logistics Group worked with the IRGC in 2025 to arrange vessels to carry Iranian oil cargoes, including a cargo carried by CANGJIE. In mid-2025, Hong Kong-based Jiandi HK Limited entered into a deal with the IRGC to purchase tens of millions of dollars of Iranian oil.  Hong Kong-based Max Honor International Trade Co., Limited purchased millions of barrels of Iranian oil from the IRGC in 2025.  The oil was carried aboard the sanctioned SCALER and SKIPPER (IMO 9304667) .  Dubai-based Blanca Goods Wholesaler LLC also arranged a 2025 oil deal with the IRGC via Golden Globe. Dubai-based Universal Fortune Trading LLC (Universal Fortune) worked with the IRGC in 2025, signing a contract with Golden Globe for oil carried by the sanctioned tanker XD LEO (IMO 9312872) .  Universal Fortune has also been used as a front company by the National Iranian Oil Company (NIOC). OFAC is designating Ahmad Mohammadi Zadeh, Samad Fathi Salami, and Mohammadreza Ashrafi Ghehi pursuant to E.O. 13224, as amended, for being leaders or officials of the IRGC. OFAC is designating Hong Kong Blue Ocean Limited, Hong Kong Sanmu Limited, Ocean Allianz Shipping LLC, Zeus Logistics Group, Jiandi HK Limited, Max Honor International Trade Co., Limited, Atic Energy FZE, and Blanca Goods Wholesaler LLC pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of the IRGC. OFAC is designating Universal Fortune Trading LLC pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of NIOC. SANCTIONS IMPLICATIONS As a result of today’s action, all property and interests in property of the designated or blocked persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC.  In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.  Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked persons. Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons.  OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC’s Economic Sanctions Enforcement Guidelines provide more information regarding OFAC’s enforcement of U.S. economic sanctions.  The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person.  In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities with designated or otherwise blocked persons. Furthermore, engaging in certain transactions involving the persons designated today may risk the imposition of secondary sanctions on participating foreign financial institutions.  OFAC can prohibit or impose strict conditions on opening or maintaining, in the United States, a correspondent account or a payable-through account of a foreign financial institution that knowingly conducts or facilitates any significant transaction on behalf of a person who is designated pursuant to the relevant authority. The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the Specially Designated Nationals and Blocked Persons List (SDN List), but also from its willingness to remove persons from the SDN List consistent with the law.  The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior.  For information concerning the process for seeking removal from an OFAC list, including the SDN List, or to submit a request, please refer to OFAC’s guidance on Filing a Petition for Removal from an OFAC List . Click here for more information on the persons designated today . ### Use featured image Off Latest News May 11, 2026 Economic Fury Ramps Up Pressure on Iran’s Islamic Revolutionary Guard Corps Oil Operations May 9, 2026 Remarks by U.S. Secretary of the Treasury Scott Bessent at University of South Carolina Commencement May 8, 2026 Economic Fury Disrupts Networks Supplying Weapons and UAV Components to Iran May 7, 2026 U.S. Department of the Treasury Hosts Convening with State Insurance Commissioners on Private Credit and the Insurance Sector Economic Fury Targets Iraqi Oil Official, Iran-Backed Terrorist Militias in Iraq