US slaps sanctions on network shipping Iranian oil to China
Sale of oil helped fund Iranian weapons and attacks by Houthi group on shipping in Red Sea, says State Department
By Reuters
May 13, 2025
Days after Iran and US negotiators concluded a fourth round of nuclear talks in Oman, Washington imposed sanctions on a shipping network it says has sent millions of barrels of Iranian oil to China, the State Department said on Tuesday.
The sale of the oil helped fund Iranian weapons and attacks by the Houthi group on shipping in the Red Sea, the US Navy and Israel, it said.
The network facilitated the shipment of oil worth billions of dollars to China on behalf of Iran’s Armed Forces General Staff and its front company, Sepehr Energy, it said.
Iran's foreign ministry spokesperson Esmaeil Baghaei, however, said that the recent US sanctions on Iran are not constructive when it comes to negotiations,
-
Bitcoin crashes below $63K as regulatory pressure and market fears grow
-
Bitwise Crypto Industry innovators ETF: What investors should do in 2026?
-
Nintendo shares slide again as momentum fears grow
-
Gold, silver prices fallen sharply; What’s driving the drop?
-
Gold’s record climb: Experts question if its safety is ‘overstated’
-
Dubai unveils plans to construct street built with real gold
-
Netflix slams Paramount’s bid: 'Doesn't pass sniff test’ as Warner battle escalates
-
Ubisoft: Shares plunge amid restructuring plan and wave of games cancellations