US sanctions 12 firms, individuals over alleged role in Iranian oil trade

The U.S. Treasury Department imposed sanctions on 12 individuals and entities allegedly involved in Iran's oil trade. These individuals and companies facilitated oil shipments and financial transactions through Hong Kong, the UAE, and Oman, using shell companies to conceal the IRGC's role. The U.S. claims the network utilized previously sanctioned tankers within Iran’s ‘shadow fleet’.