New Round of Economic Fury Sanctions Targets IRGC Oil Operations

The Trump Administration is intensifying pressure on the Islamic Revolutionary Guard Corps (IRGC) by targeting the financial networks that enable its illicit oil operations.

Today, the United States is sanctioning a network involved in selling and shipping Iranian oil to overseas buyers on behalf of the IRGC and three senior officials from the IRGC’s Shahid Purja’fari Oil Headquarters who coordinate these illicit transactions. These actions disrupt illicit funding streams that finance Iran’s support for terrorist proxies and regional aggression. These oil revenues belong to the Iranian people, who face daily economic hardship due to the Iranian regime’s corruption, mismanagement, and prioritization of funding terrorist militias and weapons programs over addressing the basic needs of its citizens.

This action represents an additional round of sanctions under Economic Fury, part of the Administration’s maximum pressure campaign against Iran. The United States will continue denying the Iranian regime access to revenue that funds terrorism, threatens regional stability, and enables attacks on U.S. forces and allies.

Additionally, the U.S. Department of State’s Rewards for Justice program is offering a reward of up to $15 million for information leading to the disruption of the financial mechanisms of Iran’s Islamic Revolutionary Guard Corps (IRGC) and its various branches. More information is available on the RFJ website.

Today’s action is being taken pursuant to the counterterrorism authority Executive Order (E.O.) 13224, 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). For more information, see Treasury’s Press Releases. The National Iranian Oil Company was also designated pursuant to E.O. 13224 on October 26, 2020 for its support to the IRGC-QF.