The Trump Administration is intensifying pressure on Iran's Islamic Revolutionary Guard Corps by targeting the financial networks that enable its illicit oil operations.
Monday, the Department of the Treasury's Office of Foreign Assets Control imposed sanctions on a network involved in selling and shipping Iranian oil to overseas buyers, including China, on behalf of IRGC, and three senior officials from its Shahid Purja'fari Oil Headquarters who coordinate these illicit transactions.
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Political News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.