The US Department of State on Friday announced new sanctions targeting entities and individuals involved in Iran’s illicit oil trade, describing the move as part of ongoing efforts to curb Tehran’s primary source of revenue.
“The United States is taking decisive action to disrupt Iran’s illicit oil trade, the Iranian regime’s primary revenue streams that fund terrorism and regional destabilization," the Department stated.
The latest measures designate multiple entities, an individual, and a vessel connected to the transport and sale of Iranian petroleum. Among those targeted is Qingdao Haiye Oil Terminal Co., Ltd., a China-based petroleum terminal operator accused of importing large quantities of sanctioned Iranian crude oil.
According to the statement, the company “has imported tens of millions of barrels of sanctioned Iranian crude oil since the announcement of National Security Presidential Memorandum-2." Officials added that such activity has “enabled the flow of billions of dollars to Tehran," often through complex evasion methods, including illicit ship-to-ship transfers and deceptive shipping practices.
The Department emphasized that “the United States will continue to intensify economic pressure on Iran and the international network that sustains its illicit energy trade as a part of Economic Fury."
US officials highlighted the role of intermediaries in sustaining Iran’s oil exports, particularly companies operating in China.
“China-based crude oil and petroleum product terminal operators serve as one of the most significant conduits in this trade, as they directly enable the flow of illicit Iranian oil to consumers," the statement said.
Qingdao Haiye operates a terminal in the Huangdao port area of Qingdao and is reported to have received dozens of shipments of Iranian crude in 2025. These shipments were linked to vessels conducting illicit transfers off the coast of Singapore, an area identified as a hotspot for such activity.
XinChun Li, identified as the company’s president, was also sanctioned. The Department stated that Qingdao Haiye was designated “for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran," while Li was blocked as a senior executive of the company.
In addition to the Chinese firm, the US imposed sanctions on two vessel management companies involved in transporting Iranian petroleum products.
The Department noted that Iran’s oil exports rely on “a network of illicit shipping facilitators in multiple jurisdictions who, through obfuscation and deception, load and transport Iranian commodities to buyers in third countries."
Among those designated is Thriving Times International Co Ltd, a United Kingdom-based manager of the Panama-flagged tanker New Fusion. The vessel was reported to have loaded Iranian petroleum products in April 2025 and previously transported petrochemical products from Iran.
Another company, Onboard Ship Management Limited, based in Hong Kong, was sanctioned for its role in managing a liquefied petroleum gas tanker that loaded cargo in Iran.
Officials stated that vessels linked to these companies have “regularly engaged in dark activity and other deceptive shipping practices, endangering other vessels and trade flows."
The Department outlined that all property and interests of the designated individuals and entities within US jurisdiction are blocked and must be reported to the Treasury Department’s Office of Foreign Assets Control.
“All transactions by US persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited unless authorized," the statement said.
The Department added that sanctions also apply to entities owned 50 percent or more by designated individuals.
While underscoring the enforcement measures, officials noted that “the ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior."
The statement concluded with a warning: “So long as Iran attempts to generate oil revenues to fund its destabilizing activities, the United States will hold both Iran and all its sanctions-evading partners accountable."
(Arutz Sheva-Israel National News' North American desk is keeping you updated until the start of Shabbat in New York. The time posted automatically on all Israel National News articles, however, is Israeli time.)