The U.S. Department of the Treasury announced new sanctions against facilitators of Iran’s oil trade.
The Office of Foreign Assets Control of the U.S. Treasury Department has imposed new sanctions on institutions and individuals facilitating Iran’s oil trade.
On Thursday, the U.S. Treasury Department announced that it has added new individuals and entities to its sanctions list.
According to the U.S. Treasury Department’s Office of Foreign Assets Control, these sanctions target networks that have collectively transported and purchased billions of dollars of Iranian oil, some of which are affiliated with the Quds Force.
Among the entities sanctioned on Thursday is a network of companies under the management of Iraqi businessman Salim Ahmed Saeed, which has profited from secretly smuggling Iranian oil or mixing it with Iraqi oil.
The Treasury Department has also sanctioned several ships involved in the clandestine delivery of Iranian oil and announced that it will intensify pressure on the shadow fleet of the Islamic Republic.
Among the sanctioned individuals and entities are several Lebanese citizens linked to the Al-Qard Al-Hassan organization, as well as multiple shipping, petrochemical, investment, and transport companies based in Iran, the United Arab Emirates, Lebanon, Turkey, Panama, India, and the Marshall Islands.
Scott Bassett, the U.S. Treasury Secretary, said that as President Trump has made clear, Iran’s behavior has led to its own destruction.
While this country has had every opportunity to choose peace, its leaders have chosen extremism.
He emphasized that the Treasury will continue to target Tehran’s sources of revenue and will intensify economic pressure to disrupt the regime’s access to financial resources that bolster its destabilizing activities.
