US Imposes New Sanctions on Network Smuggling Iranian Oil as Iraqi Oil
July 3, 202526 ViewsRead Time: 1 minutes
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The US Treasury Department announced on Thursday that the United States has imposed new sanctions on a network smuggling Iranian oil as Iraqi oil, and other sanctions on a financial institution managed by the Lebanese Hezbollah group.
The department stated in a statement that a network of companies, managed by Iraqi businessman Salim Ahmed Saeed, buys and ships Iranian oil valued at billions of dollars, disguised as Iraqi oil or mixed with it since at least 2020.
Treasury Secretary Steven Mnuchin said, "The department will continue to target Tehran's sources of revenue and intensify economic pressure to hinder the regime's access to financial resources that fuel its destabilizing activities."
The United States has imposed a series of sanctions on Iranian oil exports due to Tehran's nuclear program and its financing of armed groups in the Middle East.
The department stated in a statement that a network of companies, managed by Iraqi businessman Salim Ahmed Saeed, buys and ships Iranian oil valued at billions of dollars, disguised as Iraqi oil or mixed with it since at least 2020.
Treasury Secretary Steven Mnuchin said, "The department will continue to target Tehran's sources of revenue and intensify economic pressure to hinder the regime's access to financial resources that fuel its destabilizing activities."
The United States has imposed a series of sanctions on Iranian oil exports due to Tehran's nuclear program and its financing of armed groups in the Middle East.
