The Treasury Department of the United States announced sanctions against a network smuggling Iranian oil disguised as Iraqi oil and a financial institution controlled by Hezbollah.
The department claims that a group of companies headed by Salim Ahmed Said, an Iraqi-British national, have been buying and shipping billions of dollars’ worth of Iranian oil that has been blended with or masqueraded as Iraqi oil since at least 2020.
“Treasury will continue to target Tehran’s revenue sources and intensify economic pressure to disrupt the regime’s access to the financial resources that fuel its destabilizing activities,” said Treasury Secretary Scott Bessent.
The United States has imposed waves of sanctions on Iran’s oil exports due to its nuclear program and support for militant groups across the Middle East.
