US Sanctions Iran Oil Ships to China as Crude Prices Surge

The US announced sanctions against Iranian oil tankers heading to China, targeting individuals and companies aiding Iran's Islamic Revolutionary Guard Corps (IRGC) in the sale and shipment of Iranian oil. This move comes ahead of President Donald Trump's planned meeting with Xi Jinping, aiming to secure the security of the Strait of Hormuz. The US Treasury stated it will continue to use sanctions to deprive Iran of funding for weapons and destabilizing the global economy.