Iran – US announces sanctions against international oil smugglers

The United States on Friday (13) announced sanctions against individuals and companies involved in the international oil smuggling network (IRGC-QF, in short).

“IRGC-QF uses proceeds from Iran’s oil sales to finance its nefarious activities at the expense of the Iranian people,” said Andrea Kaki, the US director of foreign affairs. “These sales depend on key foreign intermediaries to cover up IRGC-QF’s involvement, and the Treasury will intervene and expose anyone who supports these efforts.”

The main target of the sanctions was broker Mahmoud Rashid Amur al-Hafsi, who, according to the United States, used several companies to export Iranian oil to foreign customers.

In practice, the judgment states that all property and assets of companies and individuals involved in the project under U.S. jurisdiction will be withheld. In addition, foreign financial institutions that facilitate transactions for sanctions targets may lose access to the U.S. financial system.