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

The U.S. Department of the Treasury, continuing its “Economic Fury” campaign against the Islamic Republic, has imposed a new round of sanctions on financial and logistical networks linked to the sale of Iranian oil.

According to an official statement from the department, three individuals and nine entities have been added to the U.S. sanctions list. Washington describes this network as instrumental in transporting Iranian oil to China, circumventing sanctions, and financing entities affiliated with the Islamic Republic. Among the sanctioned entities are four Hong Kong-based companies, a move analysts say indicates a renewed U.S. focus on intermediary networks in East Asia. Two of these Hong Kong firms were identified by the Treasury as front companies used to coordinate the sale and shipment of Iranian oil.

Another Hong Kong-based company was sanctioned for signing contracts worth tens of millions of dollars to purchase Iranian oil from the IRGC, while a fourth firm in the same region was accused of purchasing millions of barrels of Iranian oil from the Revolutionary Guard in 2025.

The list also includes a company based in Dubai and another in Sharjah, which Washington claims played roles in transporting Iranian oil cargoes using so-called “shadow fleet” tankers. Additionally, an Oman-based company was targeted for coordinating vessels carrying Iranian oil.

The new sanctions also name two other Dubai-based firms that, according to the Treasury Department, operated as fronts for the National Iranian Oil Company (NIOC).

According to Reuters, these sanctions are being implemented as tensions between Tehran and Washington persist over Iran’s nuclear program and developments surrounding the Strait of Hormuz.