Iranian crude oil tanker, Sevda, sails near Bandare Asaluyah, Iran, on Jan. 27, 2026. Sam/ Middle East Images/AFP via Getty Images
The U.S. Treasury Department announced on May 11 that it is sanctioning 12 new targets as part of its “Economic Fury” initiative to cripple Iran’s military and economic capacity.
“Today, the Department of the Treasury … is designating 12 individuals and entities for their roles enabling the Islamic Revolutionary Guard Corps’ (IRGC) sale and shipment of Iranian oil to the People’s Republic of China,” the department’s statement reads.
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