Shafaq News – Baghdad/Tehran/Washington
On Thursday, the US Treasury Department imposed sanctions ona business network allegedly smuggling Iranian oil under the guise oflegitimate Iraqi trade.
In a statement, the department said the companies led byIraqi businessman Salim Saeed had been purchasing and shipping Iranianoil—either disguised or blended with Iraqi crude—since at least 2020, intransactions worth billions of dollars.
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.”
Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control is taking action against networks that have collectively transported and purchased billions of dollars’ worth of Iranian oil, some of which has benefited Iran’s Islamic Revolutionary Guard Corps-Qods…
— Treasury Department (@USTreasury) July 3, 2025In remarks to Fox News on June 29, Trump indicated thatsanctions could be lifted if Iran takes constructive steps
The treasury also imposed sanctions on several seniorofficials and one entity tied to Al-Qard al-Hassan, a financial institutioncontrolled by the Lebanese Hezbollah. According to the department, theseindividuals facilitated multi-million-dollar transactions that ultimatelybenefited the group while obscuring its involvement.
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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