US Treasury Imposes New Sanctions Targeting IRGC Oil Financing Network — Hong Kong Entities, Petrochemical Transport — Day 91

The US Treasury Department imposed new sanctions on May 29, 2026 (Day 91) targeting companies, individuals, and vessels accused of funding the Islamic Revolutionary Guard Corps through Iranian oil and petrochemical transport networks, with designations specifically focusing on Hong Kong-based entities involved in Iranian oil sales and maritime transport. The new designations were announced as the Trump administration simultaneously pursued the 60-day MoU framework, reflecting the continued US dual-track approach of maximizing economic pressure while seeking a diplomatic settlement. The move was notable for its timing: sanctions were being tightened the same day Bloomberg reported US-Iran agreement on the truce extension framework, indicating the US intended to preserve economic leverage even as deal terms were being finalized. Iran's oil export revenues — already severely constrained with Hormuz at approximately 4% of pre-crisis traffic levels — were targeted further to limit IRGC operational funding. Al Jazeera's Day 91 summary confirmed the new IRGC oil network sanctions as a development of the day alongside the diplomatic MoU progress.