The United States sanctioned an Iranian oil smuggling network
The U.S. Department of the Treasury sanctioned a network of shipping companies and vessels managed by Waleed Samarai, a businessman with Iraqi and Saint Kitts and Nevis citizenship, for smuggling Iranian oil under the guise of an Iraqi oil company.
According to the U.S. Department of the Treasury, this network primarily operates by secretly mixing Iranian oil with Iraqi oil and then deliberately marketing it as oil of Iraqi origin to evade sanctions.
This scheme has generated hundreds of millions of dollars in revenue for the Iranian regime and Samarai himself.
U.S. Treasury Secretary Scott Bassant said Iraq cannot become a safe haven for terrorists, which is why the United States is working to counter Iran’s influence in that country.
By targeting Iran’s oil revenue stream, the Treasury Department further reduces the regime’s ability to attack the United States and its allies.
He added that we will continue our efforts to disrupt Tehran’s ongoing attempts to circumvent U.S. sanctions.
As a result of this sanction, all assets and interests in assets of Mr. Samarai will be blocked.
Violating U.S. sanctions may result in civil or criminal penalties for American and foreign individuals.