U.S. automaker Tesla's sales of China-made electric vehicles fell 11.5% to 63,238 units in January from a year earlier, data from the China Passenger Car Association showed on Friday. Deliveries of China-made Model 3 and Model Y vehicles were down 32.

Competition between Tesla and Chinese domestic rivals is intensifying as the U.S. firm continues to launch incentives to keep its cars attractive.

The U.S. on Thursday imposed sanctions on a network of more than a dozen people and firms that are accused of facilitating the shipment of millions of barrels of Iranian oil to China

The US Treasury Department has imposed sanctions against the IRGC's international network for smuggling Iranian oil to China. This applies to companies in China, India, and the UAE, according to the US Treasury Department.

The U.S. Treasury said on Thursday it is imposing new sanctions on individuals and tankers helping to ship millions of barrels of Iranian crude oil per year to China. The move comes after U.S. President Donald Trump earlier this week vowed to bring Iran's oil exports to zero as the U.