U.S. Cuts Off Iranian Military Oil Money with New Sanctions

The Trump Administration has blocked a major source of Iranian military funding by placing new sanctions on the Islamic Revolutionary Guard Corps (IRGC)-country's oil shipping networks and top officials.

The move, announced May 11 by spokesperson Thomas Tommy Pigott, blacklists a network involved in selling and shipping Iranian oil to overseas buyers on behalf of the IRGC.

The sanctions also specifically target three senior officials from the IRGC’s Shahid Purja’fari Oil Headquarters who coordinate the illicit transactions.

"The Trump Administration is intensifying pressure on the Islamic Revolutionary Guard Corps (IRGC) by targeting the financial networks that enable its illicit oil operations," Pigott said in a press statement.

U.S. officials stated the primary goal of the "Economic Fury" round of sanctions is to choke off funding streams used to finance terrorist proxies and regional aggression. The administration argued that these revenues are being diverted away from the Iranian populace.

"These oil revenues belong to the Iranian people, who face daily economic hardship due to the Iranian regime’s corruption, mismanagement, and prioritization of funding terrorist militias and weapons programs over addressing the basic needs of its citizens," Pigott said.

The spokesperson added that the United States remains committed to its strategy of financial isolation:

"The United States will continue denying the Iranian regime access to revenue that funds terrorism, threatens regional stability, and enables attacks on U.S. forces and allies."

$15 million reward offered

Parallel to the new sanctions, the U.S. Department of State’s Rewards for Justice program announced a reward of up to $15 million. The reward is offered for information leading to the disruption of the financial mechanisms of the IRGC and its various branches.