Washington, May 12, (dpa/GNA) – The US administration on Monday, further intensified economic pressure on Iran with more sanctions.
The US Treasury said it was imposing sanctions on 12 individuals and companies, including firms based in Hong Kong and the United Arab Emirates, accusing them of enabling the sale and shipment of Iranian oil to China by the Iran’s Islamic Revolutionary Guard Corps (IRGC).
The IRGC used shell companies to “obfuscate its role in oil sales and funnel the revenue to the Iranian regime,” the statement said.
Treasury Secretary Scott Bessent said that, “as Iran’s military desperately tries to regroup,” the Trump administration will “continue to deprive the regime of funding for its weapons programs, terrorist proxies, and nuclear ambitions.”
“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,” Bessent added.
Sanctions announced ahead of Trump’s meeting with Xi in Beijing
The new sanctions come shortly before the planned meeting between US President Donald Trump, and Chinese President Xi Jinping in Beijing this week.
It also follows other sanctions announced on Friday, targeting individuals and companies, including from China, which the US administration accused of playing a role in procuring weapons and components for Iran’s drone and missile programmes.
China and Iran are close economic partners, and the country is seen as the largest buyer of Iranian oil. Beijing has already repeatedly criticized the US approach towards Iran.
The Iran issue is likely to play a significant role in the meeting between Trump and Xi in Beijing. Trump is to travel to the Chinese capital from Wednesday to Friday.
GNA