SAEDNEWS: The US Treasury Department announced new sanctions on Iran on Monday.
The US Treasury Department issued a statement announcing the imposition of sanctions related to Iran, announcing that it had added one individual, four entities, and several tankers to the list of sanctions related to Iran.
"Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a network of shipping companies and vessels led by Iraqi-Kittitian businessman Waleed al-Samarra’i (al-Samarra’i) for smuggling Iranian oil disguised as Iraqi oil," the Treasury said in its statement on Monday.
This network operates primarily by covertly blending Iranian oil with Iraqi oil, which is then marketed intentionally as solely of Iraqi origin to avoid sanctions. This scheme has generated hundreds of millions of dollars in revenue for both the Iranian government and al-Samarra’i himself, the statement added.
The Treasury also sanctioned nine oil tankers and seven companies to the list of anti-Iran sanctions.
