The US Treasury Department issued a statement announcing the imposition of sanctions related to Iran, and announced that it had added one individual, four entities and several tankers to its list of sanctions related to Iran.
“Today, the US Treasury Department’s Office of Foreign Assets Management (OFAC) has approved a shipping company and a vessel network led by Iraqi Kititian businessman Waleed Al-Samarra’i (Al-Samarra’i).
The network operates primarily by secretly combining Iranian oil with Iraqi oil. Iraqi oil is sold intentionally as its Iraqi origins alone to avoid sanctions. The scheme generated hundreds of millions of dollars in revenue for both the Iranian government and al-Samarai himself, the statement added.
The Ministry of Finance has also approved nine oil tankers and seven companies on the list of anti-Iran sanctions.
MNA/6577883