Latest news with #Hizballah-controlled
The Hill
2 days ago
- Business
- The Hill
US targets Iran oil trade, Hezbollah with new sanctions
The State Department announced on Wednesday that it would target entities and individuals connected to Iran and Hezbollah with new sanctions. Six entities and four vessels associated with Iran were sanctioned for knowingly engaging in a significant transaction related to the purchase, acquisition, sale, transport, or marketing of petroleum, petroleum products, or petrochemical products from Iran. A network of companies is run by Iraqi businessman Salim Ahmed Said, according to State Department spokesperson Tammy Bruce. 'Concurrently, the Department of the Treasury is designating oil smuggling networks that have collectively transported and purchased billions of dollars' worth of Iranian oil,' Bruce said in a Wednesday statement. 'Treasury is also sanctioning several shadow fleet vessels engaged in the covert delivery of Iranian oil.' Several additional companies and three shadow fleets linked to Iranian oil trades will also face new sanctions. Kaveh Methanol Company, Aria International, Asian Sea Angel Shipping Company, Sai Saburi Consulting Services, Breeze Marine Asset Management and Isle Innovation will be subject to penalties outlined in a separate Wednesday release. 'The Iranian regime continues to fuel conflict and instability in the Middle East, disrupt trade flows, and fund terrorist and proxy groups,' Bruce said of the financial measures. 'Today, the United States is taking action to stem the flow of revenue that the regime uses to support such destabilizing activity, as well as to oppress its own people,' she added. The move comes a week after President Trump said he would permit China to buy Iranian oil without additional U.S. sanctions. 'China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the U.S., also,' Trump wrote in a Truth Social post last Tuesday, before the U.S. struck Iran's nuclear development sites. Both the U.S. and China are working to reduce tensions following a trade war in April, while the White House negotiates economic tariff deals with countries worldwide. The State Department said Wednesday it would make an effort to help Lebanon by sanctioning companies connected to the terrorist group, Hezbollah. Seven senior officials and one entity linked to Al-Qard Al-Hassan (AQAH), a Hizballah-controlled financial institution, will face economic restrictions.
Shafaq News
2 days ago
- Business
- Shafaq News
US sanctions Iraqi businessman for Iranian oil exports
Shafaq News – Baghdad/Tehran/Washington On Thursday, the US Treasury Department imposed sanctions on a business network allegedly smuggling Iranian oil under the guise of legitimate Iraqi trade. In a statement, the department said the companies led by Iraqi businessman Salim Saeed had been purchasing and shipping Iranian oil—either disguised or blended with Iraqi crude—since at least 2020, in transactions worth billions of dollars. The sanctions also target several vessels accused of covertly transporting Iranian oil, as part of what US officials described as a crackdown 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, 2025 In remarks to Fox News on June 29, Trump indicated that sanctions could be lifted if Iran takes constructive steps The treasury also imposed sanctions on several senior officials and one entity tied to Al-Qard al-Hassan, a financial institution controlled by the Lebanese Hezbollah. According to the department, these individuals facilitated multi-million-dollar transactions that ultimately benefited 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, 2025 Earlier this year, Iraq's Oil Minister stated in a televised interview that Iran had falsified documents for oil shipments using Iraq's name to mask the exports, affirming that the government had notified Washington of its non-involvement.
