The United States has enacted sanctions against 12 individuals and companies accused of facilitating Iran's oil sales to China, specifically targeting three individuals and nine companies based in Hong Kong, the United Arab Emirates, and Oman. The US Treasury stated that these entities are part of networks employed by Iran's Islamic Revolutionary Guard Corps (IRGC) to disguise its involvement in oil transactions, enabling the Iranian government to receive revenue from these sales. The sanctions freeze any US-based assets of the listed entities and prohibit US individuals and firms from engaging with them. Treasury Secretary Scott Bessent affirmed that the US will persist in applying economic and military pressure to undermine Iran's funding for its military programs and nuclear ambitions. This action precedes a meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing, where discussions regarding Iran's oil trade are anticipated. The sanctions are part of a broader strategy to disrupt Iran's financial networks and come alongside a reward of up to $15 million for information that could hinder the IRGC's financial operations. The situation has significant implications for global energy markets, particularly in the Strait of Hormuz, a critical route for oil shipments.