U.S. Sanctions Hong Kong, UAE & Oman Firms Over Iranian Oil Network

The U.S. has imposed new sanctions on Hong Kong, UAE, and Oman firms linked to Iran’s oil network, amid ongoing tensions over Iran’s nuclear program and the Strait of Hormuz. These sanctions target networks involved in transporting Iranian oil to China, circumventing sanctions, and financing affiliated entities. Hong Kong-based companies were identified as key intermediaries in this network.