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US sanctions firms tied to Iran oil shipments to China to cut funding for weapons programs
International
Published on 12 May 2026
Sanctions hit Hong Kong and UAE players
The US has announced new sanctions targeting three individuals and nine companies accused of facilitating Iran’s oil shipments to China. The action is designed to disrupt funding flowing to Iran’s Islamic Revolutionary Guard Corps and its weapons programs. Coming after earlier measures, the move also sets the stage for a planned meeting between US and Chinese leaders.
- US sanctions three individuals and nine companies
- Targets alleged facilitators of Iran oil shipments to China
- Aims to restrict money for Iran’s IRGC and weapons programs
- Includes entities linked to Hong Kong and UAE
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times