US Sanctions Strike at Iranian Oil Smuggling Network

The United States has imposed sanctions on a network smuggling Iranian oil as Iraqi oil and a Hezbollah-linked financial institution. The network, led by Iraqi businessman Salim Ahmed Said, and several vessels involved in covert deliveries are targeted. The sanctions aim to disrupt Iran's destabilizing economic activities.

The United States announced sanctions Thursday against a network disguising Iranian oil as Iraqi, along with a Hezbollah-controlled financial body, the Treasury Department revealed.

A network spearheaded by Iraqi businessman Salim Ahmed Said has been acquiring and transporting Iranian oil mixed with Iraqi oil since at least 2020. According to Treasury Secretary Scott Bessent, these sanctions aim to cut off Tehran's destabilizing revenue streams.

In addition, sanctions were issued against vessels linked to the stealthy shipment of Iranian oil, adding pressure to Iran's clandestine fleet. Additionally, senior officials tied to Hezbollah's Al-Qard Al-Hassan financial institution faced sanctions for concealing their lucrative operations.

(With inputs from agencies.)