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U.S. TARGETS IRANIAN OIL NETWORK OPERATING VIA TURKEY, UAE AND HONG KONG
Foreign Affairs Jul 14, 2025

U.S. TARGETS IRANIAN OIL NETWORK OPERATING VIA TURKEY, UAE AND HONG KONG

The United States has imposed sanctions on 22 entities linked to a shadow banking network accused of facilitating illicit oil trade on behalf of the Iranian regime. The network operates through front companies based in Turkey, the United Arab Emirates, and Hong Kong, funneling revenue to Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), the U.S. State Department announced on July 9.

Editorial Team
U.S. TARGETS IRANIAN OIL NETWORK OPERATING VIA TURKEY, UAE AND HONG KONG
Foreign Affairs Jul 11, 2025

U.S. TARGETS IRANIAN OIL NETWORK OPERATING VIA TURKEY, UAE AND HONG KONG

The United States has imposed sanctions on 22 entities linked to a shadow banking network accused of facilitating illicit oil trade on behalf of the Iranian regime. The network operates through front companies based in Turkey, the United Arab Emirates, and Hong Kong, funneling revenue to Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), the U.S. State Department announced on July 9.

Editorial Team