The U.S. Department of the Treasury on Thursday sanctioned over 50 individuals, entities, and vessels for facilitating billions of dollars in Iranian oil and gas exports that fund terrorist groups.
The sweeping action marks the Trump administration’s fourth round targeting China-based refineries purchasing Iranian oil. It includes shadow fleet vessels, a Chinese crude terminal, and an independent refinery critical to Iran’s petroleum export infrastructure.
“The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine,” said Treasury Secretary Scott Bessent. “Under President Trump, this administration is disrupting the regime’s ability to fund terrorist groups that threaten the United States.”
The sanctions target networks moving hundreds of millions in Iranian liquefied petroleum gas through complex schemes involving shell companies from Hong Kong to the UAE. One network alone facilitated over $100 million in LPG payments through Hong Kong-based AIX Company Limited in early 2025.
UAE-based Markan White Trading and Slogal Energy played key roles in enabling Iranian LPG sales to Sri Lanka and Bangladesh. The companies used shipping vessels, such as the Panama-flagged GAS DIOR, which delivered over 17,000 metric tons of Iranian LPG to Bangladesh.
China’s Shandong Jincheng Petrochemical Group has purchased millions of barrels of Iranian oil since 2023. The independent refinery received shipments worth hundreds of millions delivered by sanctioned shadow fleet vessels.
The Rizhao Shihua Crude Oil Terminal at Lanshan Port accepted multiple shadow fleet vessels carrying millions of barrels of Iranian oil. These included previously sanctioned tankers KONGM and BIG MAG.
Iran’s shadow fleet employs elaborate obfuscation tactics to mask petroleum shipments. Exporters transfer cargoes between vessels in the Persian Gulf and waters off Singapore and Malaysia to disguise cargo origins, according to the U.S.Treasury Department.
Several shipping agents assisted sanctioned vessels in offloading Iranian oil at Chinese ports. Qingdao Hexin helped vessels PROGRESS V and SCORPIUS deliver nearly four million barrels total to Haiye Terminal.
The sanctions also targeted tugboats enabling ship-to-ship transfers. Singapore-based tugs APS 9 and PIONEER 92 supported at least seven Iran-affiliated tankers each in transfer operations.
Thursday’s action continues sanctions supporting the president’s campaign of maximum economic pressure on Iran. It builds on previous rounds in July and August targeting key enablers of Iranian oil exports.
All property and interests of designated persons in the United States are now blocked. U.S. persons are prohibited from transactions involving blocked property unless authorized by license.
The Treasury noted sanctions aim to change behavior rather than punish. It outlined procedures for entities seeking removal from sanctions lists through demonstrated compliance. The full list of the most recently sanctioned persons, entities, and vessels can be found here.