The US state department has announced a reward of up to $15 million for information on financial networks linked to the Islamic Revolutionary Guard Corps (IRGC), as part of expanded sanctions and enforcement actions targeting Iran’s alleged illicit oil trade and funding systems.
The announcement comes under the US “Rewards for Justice” program, which is offering the reward for information that could help disrupt the IRGC’s financial infrastructure, including its various branches such as the IRGC-Quds Force.
State department spokesperson Thomas “Tommy” Pigott said the US is stepping up pressure under its “Economic Fury” sanctions framework.
"The Trump Administration is intensifying pressure on the Islamic Revolutionary Guard Corps (IRGC) by targeting the financial networks that enable its illicit oil operations," the statement read.
The US also announced sanctions on a network it says is involved in selling and shipping Iranian oil to overseas buyers on behalf of the IRGC, along with three senior officials from the IRGC’s Shahid Purja’fari Oil Headquarters. These individuals were described as being involved in coordinating oil-related financial transactions.
According to the statement, the measures are aimed at cutting off funding channels that the US says are used to support proxy groups and military activities across the region.
"These actions disrupt illicit funding streams that finance Iran's support for terrorist proxies and regional aggression. These oil revenues belong to the Iranian people, who face daily economic hardship due to the Iranian regime's corruption, mismanagement, and prioritisation of funding terrorist militias and weapons programmes over addressing the basic needs of its citizens," the statement read.
The Rewards for Justice program also said it is seeking information on IRGC-linked financing networks. This includes oil-for-money schemes, front companies, sanctions-evasion networks, financial institutions involved in transactions, and procurement channels for dual-use technologies.
