The Trump administration imposed sanctions on dozens of companies based in mainland China and Hong Kong, accusing them of helping Iran’s Islamic Revolutionary Guard Corps and Defense Ministry procure weapons components and move oil. The Treasury Department, through OFAC, identified at least 366 Chinese or Hong Kong entities sanctioned since November 2025, with a particular focus on military supply networks and oil revenue streams. Operation Economic Outcast in August 2026 targeted nearly 60 entities globally, including Sweet Ocean Industrial Limited, identified as an intermediary for sensitive goods destined for Iranian defense organizations, and multiple shipping firms for military oil shipments valued at over $100 million.
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