According to the Treasury Department, the United States placed penalties on a financial institution owned by Hezbollah and on a network that smuggles Iranian oil under the guise of Iraqi oil on Thursday.
According to the government, since at least 2020, a group of businesses led by Iraqi-British national Salim Ahmed Said have been purchasing and transporting billions of dollars’ worth of Iranian oil that has been mixed with or passed off as Iraqi oil.
Treasury Secretary Scott Bessent stated, “Treasury will keep targeting Tehran’s revenue sources and increase economic pressure to prevent the regime from accessing the financial resources that support its destabilizing activities.”
Because of Iran’s nuclear program and support for militant organizations throughout the Middle East, the US has placed waves of restrictions on its oil exports.
