US imposes fresh sanctions on entities linked to Iran

The United States has imposed new sanctions on six entities and individuals in China, India, Russia and Iran for allegedly providing goods, financial services and logistical support to Iran’s Islamic Revolutionary Guard Corps (IRGC) and Mahan Air.

The sanctions, announced by the US Treasury Department’s Office of Foreign Assets Control (OFAC), target several general sales agents, companies based in Shanghai and a Russian air cargo firm accused of supporting Mahan Air’s international operations.

US Treasury Secretary Scott Bessent said those providing financial or logistical assistance to the IRGC or Mahan Air help sustain what Washington considers a terrorist network and will be denied access to the US financial system.

Under the sanctions, all US-based assets of the designated individuals and entities will be frozen, while US citizens and businesses are prohibited from engaging in transactions with them. Foreign banks or companies that continue dealing with the sanctioned parties could also face secondary sanctions.

The US has long accused Mahan Air of transporting IRGC personnel and military equipment to regional conflict zones. The airline denies the allegations, calling them politically motivated.

The move is part of the Trump administration’s “maximum pressure” campaign against Iran. There was no immediate response from Tehran or the sanctioned parties.

The IRGC has significant business interests in sectors including infrastructure, oil and gas, real estate and banking through affiliated companies and foundations. Western governments also accuse it of using shell companies, illicit oil trade, smuggling networks and cryptocurrencies to bypass international sanctions.