The United States has announced new sanctions against a network that smuggles Iranian oil, posing as Iraqi oil, as well as a financial institution controlled by Hezbollah. About this informs Reuters.
According to the US Treasury, a network of companies headed by Iraqi-British citizen Salim Ahmed Saeed purchased and transported billions of dollars worth of Iranian oil since 2020. This oil was either disguised as Iraqi oil or mixed with it.
“The Treasury Department will continue to target Tehran’s sources of revenue and increase economic pressure to deny the regime access to the financial resources that fuel its destabilizing actions.” – said US Treasury Secretary Scott Bessent.
According to the Ministry of Finance, companies and vessels associated with Saeed mixed Iranian oil with Iraqi oil and then sold it as Iraqi oil either through Iraq or through the United Arab Emirates. For this, they used forged documents to circumvent sanctions. Sanctions are also in place against several vessels that the US believes have been involved in covert shipments of Iranian oil. This is part of efforts to increase pressure on Iran’s “shadow fleet”.
In addition, the sanctions affected several high-ranking individuals and an entity linked to the Hezbollah-controlled Al-Qard Al-Hassan financial structure. According to the Ministry of Finance, these individuals conducted financial transactions worth millions of dollars that benefited Hezbollah while concealing its involvement. Previously, the US has repeatedly imposed sanctions against the export of Iranian oil because of Iran’s nuclear program and support for militant groups in the Middle East.
