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4d ago

U.S. Targets Iran’s Oil Smuggling Network, Shadow Fleet and Hezbollah Financier

NSPM-2 designations block assets to choke off funding for Tehran’s regime through covert oil shipments.

U.S. Treasury Secretary Scott Bessent speaks to reporters at the U.S. Capitol as Republican lawmakers struggle to pass U.S. President Donald Trump?s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., U.S., June 27, 2025. REUTERS/Elizabeth Frantz/File Photo
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Overview

  • The Treasury sanctioned an Iraqi-British network led by Salim Ahmed Said for blending and disguising Iranian crude as Iraqi exports, freezing their U.S. assets.
  • The State Department designated vessel managers and tankers engaged in AIS-off “dark activity” to carry millions of barrels of Iranian oil through the shadow fleet.
  • Senior officials of Hezbollah’s Al-Qard Al-Hassan institution were sanctioned for processing millions in transactions that obscured funding to the group.
  • The coordinated actions implement National Security Presidential Memorandum-2 and related executive orders targeting Iran’s petroleum and petrochemical sectors.
  • These designations block U.S. assets of the targeted parties and prohibit Americans from doing business with them, marking the tenth round of oil-related sanctions under NSPM-2.