US Imposes Sanctions on 22 Companies for Facilitating Sale of Iranian Oil
July 9, 20257 ViewsRead Time: 1 minutes
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The US Treasury Department stated that Washington imposed sanctions on 22 companies in Hong Kong, the UAE, and Turkey today, Wednesday, due to their involvement in facilitating the sale of Iranian oil.
It added that the oil sales are conducted for the benefit of the Quds Force, a branch of the Iranian Revolutionary Guard, the most powerful quasi-military institution in Iran, classified by the US as a foreign terrorist organization.
The Treasury Department said that the Quds Force uses front companies outside Iran to transfer hundreds of millions of dollars from Iranian oil sales profits through external accounts to circumvent US sanctions.
It explained that this money is allocated to fund Iran's weapons programs and allied groups in the region. The Department imposed several packages of sanctions targeting these activities.
Treasury Secretary Steven Mnuchin said: "The Iranian regime heavily relies on this parallel banking system to finance its nuclear programs and destabilizing ballistic missile programs instead of serving the interests of the Iranian people".
It added that the oil sales are conducted for the benefit of the Quds Force, a branch of the Iranian Revolutionary Guard, the most powerful quasi-military institution in Iran, classified by the US as a foreign terrorist organization.
The Treasury Department said that the Quds Force uses front companies outside Iran to transfer hundreds of millions of dollars from Iranian oil sales profits through external accounts to circumvent US sanctions.
It explained that this money is allocated to fund Iran's weapons programs and allied groups in the region. The Department imposed several packages of sanctions targeting these activities.
Treasury Secretary Steven Mnuchin said: "The Iranian regime heavily relies on this parallel banking system to finance its nuclear programs and destabilizing ballistic missile programs instead of serving the interests of the Iranian people".
