These entities have generated hundreds of millions of dollars' worth of revenue from selling Iranian commodities, including to the Syrian government," the U.S. Treasury Department said in a statement.

"These commodity sales provide a key source of funding for the IRGC-QF and Hezbollah," the Treasury further claimed, according to Reuters.

The Treasury Department said it had imposed sanctions on Turkey-based Mira Ihracat Ithalat Petrol, which purchases, transports, and sells Iranian commodities on the global market, and its chief executive and owner Ibrahim Talal al-Uwayr, who is also known under the alias Ibrahim Agaoglu.

It also targeted two Lebanon-based entities, Yara Offshore SAL, a company affiliated with Hezbollah which has facilitated large sales of Iranian commodities to Syria, and Hydro Company for Drilling Equipment Rental, which is involved in financing the IRGC-QF by facilitating the shipment of Iranian commodities worth hundreds of millions of dollars to Syria.

As a result of the sanctions, all property of those targeted in the United States or that fall under the control of US persons is blocked.