Sanctioning Oil Smuggling Network Generating Billions for Iranian Military

The United States is today sanctioning an international network facilitating the shipment of millions of barrels of Iranian crude oil worth billions of dollars to China on behalf of Iran’s Armed Forces General Staff (AFGS) and its front company, Sepehr Energy Jahan Nama Pars (Sepehr Energy).  The revenue from the sale of this oil funds the development of ballistic missiles and unmanned aerial vehicles (UAVs), nuclear proliferation, and Iran’s terrorist proxies, including the Houthis’ attacks on Red Sea Shipping, the U.S. Navy, and Israel.

The United States will continue to take action in support of National Security Presidential Memorandum 2, which imposes maximum pressure on the Iranian regime to deny it access to resources that sustain its destabilizing activities.

As long as Iran devotes its illicit revenues to funding attacks on the United States and our allies, supporting terrorism around the world, and pursuing other destabilizing actions, we will continue to use all the tools at our disposal to hold the regime accountable.

Today’s action is being taken pursuant to the counterterrorism authority Executive Order (E.O.) 13224, as amended by E.O. 13886. For more information on today’s action, please see the Department of the Treasury Press Release.