The United States Department of Treasury announced on Tuesday new sanctions aimed at cutting off revenue to Iran for its destabilizing activities in Iraq, the Middle East, and beyond.
“The sanctions target a network of companies and vessels led by Waleed al-Samarra’i, an Iraqi and Saint Kitts and Nevis dual citizen, accused of smuggling Iranian oil disguised as Iraqi oil,” the Treasury said in a statement.
The move is part of the U.S. strategy under National Security Presidential Memorandum 2 to maximize pressure on the Iranian regime and deny it funding for destabilizing activities. The action is being implemented under Executive Order 13902, which focuses on key sectors of the Iranian economy, including petroleum and petrochemicals.
The U.S. government emphasized it will continue using all available tools to counter Iran’s illicit oil trade.
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