US Sanctions Iranian Oil Network Linked to IRGC and MODAFL

The US has imposed sanctions on a financial network connected to Iranian oil sales, specifically targeting entities in Hong Kong and the UAE, to disrupt funding for Iran’s military and its proxies, including the IRGC and MODAFL. This action highlights the growing control of the IRGC over Iran’s oil industry, with estimates suggesting that 50% of the country’s oil wealth is redirected to the military organization.

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