US designates 12 individuals, entities for role in enabling IRGC sale of oil to China Last updated: May 12, 2026 | 01:53 US Treasury Secretary Scott Bessent. Reuters Washington DC: The United States on Monday (local time) designated 12 individuals and entities for their role in enabling the Islamic Revolutionary Guard Corps' (IRGC) sale and shipment of Iranian oil to China. In a press statement shared on Monday, the Treasury Department accused the IRGC of using the revenue to direct it towards weapons development, backing terrorist proxies and funding security forces, which it said suppressed citizens' freedoms instead of supporting the Iranian people. The statement said that the action was taken pursuant to the counterterrorism authority Executive Order (E.O.) 13224, as amended, which targets terrorist groups, their supporters, and those who aid in acts of terrorism.…