Overview

• US Treasury designated Salim Ahmed Said, his UAE-based tanker company and two UK-registered firms for allegedly disguising Iranian crude as Iraqi oil over five years.
• The sanctions extend to vessels in Iran’s “shadow fleet” that officials say disabled tracking systems and performed ship-to-ship transfers to evade sanctions.
• Treasury documents accuse Said of bribing Iraqi officials and forging certificates to launder over $1 billion in oil revenues.
• Authorities allege profits from the scheme were funneled to the Islamic Revolutionary Guard Corps, designated by the US as a terrorist organization.
• No immediate action has been announced by UK enforcement agencies to mirror the US measures.