The U.S. Department of the Treasury has sanctioned three individuals and nine companies involved in oil shipments related to Iran.

Techub News, according to CryptoBriefing, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced on May 11 the sanctioning of three individuals and nine companies, accusing them of using front companies based in Hong Kong, the United Arab Emirates, and Oman to assist Iran in shipping oil to China and providing financial support to the Islamic Revolutionary Guard Corps (IRGC).

Last week, the department sanctioned ten entities that supplied arms and drone components to Iran. Although this round of sanctions does not involve cryptocurrency companies, the Treasury Department pointed out that any agreement handling transactions with sanctioned entities faces compliance risks. The agency previously sanctioned the decentralized protocol Tornado Cash in 2022.