On Thursday, the US Treasury Department imposed sanctions ona business network allegedly smuggling Iranian oil under the guise oflegitimate Iraqi trade.
The sanctions also target several vessels accused ofcovertly transporting Iranian oil, as part of what US officials described as acrackdown on Iran’s “shadow fleet.”
— Treasury Department (@USTreasury) July 3, 2025
In remarks to Fox News on June 29, Trump indicated thatsanctions could be lifted if Iran takes constructive steps
Today, the Department of the Treasury’s Office of Foreign Assets Control is sanctioning seven senior officials and one entity associated with the Hizballah-controlled financial institution Al-Qard Al-Hassan, which was designated by OFAC in 2007.
— Treasury Department (@USTreasury) July 3, 2025Earlier this year, Iraq’s Oil Minister stated in a televisedinterview that Iran had falsified documents for oil shipments using Iraq’s nameto mask the exports, affirming that the government had notified Washington ofits non-involvement.
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