OFAC Sanctions Network Moving Iranian Oil
The Office of Foreign Assets Control last week sanctioned a network of people, entities and ships for transporting and buying billions of dollars’ worth of Iranian oil, some of which has benefited Iran’s Islamic Revolutionary Guard Corps-Qods Force. OFAC said some of companies are run by Iraqi businessman Salim Ahmed Said, who the agency said smuggles Iranian oil disguised as Iraqi oil.
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The designations target several businesses and ships owned or controlled by Said, including United Arab Emirates-based company VS Tankers FZE and its oil tanker Dijilah; Iraq-based VS Oil Terminal FZE; UAE-based UAE-based VS Petroleum DMCC, formerly Ikon Petroleum DMCC; Rhine Shipping DMCC; and U.K.-based The Willett Hotel Limited and Robinbest Limited.
OFAC also sanctioned a range of tanker companies and ship owners based in Singapore, the Seychelles, the Marshall Islands and the Birtish Virgin Islands, flagging the Cameroon-flagged Atila for carrying about 2 million barrels of Iranian oil.
"Treasury will continue to target Tehran’s revenue sources and intensify economic pressure to disrupt the regime’s access to the financial resources that fuel its destabilizing activities," Treasury Secretary Scott Bessent said.