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On May 11, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated 12 individuals and entities for enabling the Islamic Revolutionary Guard Corps (IRGC) sale and shipment of Iranian oil to the People's Republic of China. The designations target three Iran-based IRGC officials and nine entities across Hong Kong, Dubai, Sharjah, and Oman that function as cover companies and shipping facilitators. The designated individuals include Ahmad Mohammadi Zadeh, chief of the IRGC Shahid Purja'fari Oil Headquarters; Samad Fathi Salami, finance chief responsible for managing foreign currency overseas; and Mohammadreza Ashrafi Ghehi, commercial chief. The designated entities include Hong Kong Blue Ocean Limited, Hong Kong Sanmu Limited, Ocean Allianz Shipping LLC, Atic Energy FZE, Zeus Logistics Group, Jiandi HK Limited, Max Honor International Trade Co. Limited, Blanca Goods Wholesaler LLC, and Universal Fortune Trading LLC. The action expands OFAC's "Economic Fury" campaign targeting Iran's revenue generation. According to Treasury Secretary Scott Bessent, the campaign aims to deprive the Iranian regime of funding for weapons programs, terrorist proxies, and nuclear ambitions. OFAC notes the IRGC uses front companies in permissive jurisdictions to obscure its role in oil sales and launder revenue outside Iran. The designations build on a July 2025 action targeting Golden Globe Demir Celik Petrol Sanayi ve Ticaret Anonim Sirketi, another cover company coordinating IRGC oil sales. All property and interests in property of designated persons within the United States or controlled by U.S. persons are blocked. U.S. persons are prohibited from conducting transactions involving designated entities unless authorized by OFAC license. Violations may result in civil or criminal penalties. Foreign financial institutions facilitating transactions with designated persons risk exposure to secondary sanctions.