News
China Sanctions · Illicit Finance · Iran Oil · Wanda Holdings
Chinese firms, notably Wanda Holdings Group, are actively circumventing international sanctions by facilitating illicit oil trade with Iran, directly funding approximately half of Tehran's military budget and enabling its rearmament efforts, as reported by The National Interest.
The article, published on July 9, 2025, details how China's oil imports from Iran surged to record highs in June, coinciding with US and Israeli military strikes in Iran. Shang Jiyang, a Chinese Communist Party member and billionaire, controls Wanda Holdings Group, a sprawling conglomerate operating critical infrastructure from pipelines to refineries, which is central to this illicit trade.
Authors Elaine K. Dezenski and Max Meizlish from the Foundation for Defense of Democracies assert that denying Iran the financial resources to rebuild and rearm requires targeting Chinese buyers, bankers, and billionaires, advocating for direct sanctions against China to halt Iran's military financing.
China Funds Iran War Machine Via Illicit Oil(current)
