Shafaq News – Washington
On Tuesday, the US TreasuryDepartment imposed sanctions on 22 companies based in Hong Kong, the UnitedArab Emirates, and Turkiye for assisting the Iranian Revolutionary GuardCorps-Quds Force (IRGC-QF).
According to the Office ofForeign Assets Control (OFAC), the IRGC-QF relies on front companies andoffshore accounts to channel hundreds of millions of dollars from illicit oilsales, which are used to fund weapons programs and support affiliated groups inthe region.
Among the sanctioned entities isTurkiye-based Pulcular Enerji, which coordinated oil purchases with IRGC-QFoperatives and Hezbollah-linked brokers.
“Payments for these deals wereprocessed through Hong Kong-based companies, including Amito Trading andPeakway Global,” OFAC added.
Other firms, such as JTU Energyand Shelf Trading, played roles in moving oil revenues through sanctionedIranian exchange houses. OFAC also designated Turkiye-based Golden Globe DemirCelik for acting as a front for Iran’s oil operations.
Several Hong Kong-based companies,including Future Resource Trading and Mist Trading, were directly involved inthe sale of Iranian oil and petrochemicals, according to US officials.
Meanwhile, US Treasury Secretary Scott Bessentstated that the sanctions aim to disrupt Iran’s financial networks, whichsupport destabilizing activities across the region, and reaffirmed Washington’scommitment to dismantling these systems.
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