US EditionUS issues Iran-related sanctions on network of shipping companies, vessels
- On September 2, 2025, the U.S. Treasury Department imposed sanctions on a shipping network led by Iraqi-Kittitian businessman Waleed al-Samarra’i, who is accused of covertly mixing Iranian crude with Iraqi oil and selling it as exclusively Iraqi to bypass U.S. sanctions.
- The sanctions build on previous actions targeting similar smuggling networks and aim to curb Iran's illicit petroleum revenue, amid stalled nuclear talks and regional tensions.
- Al-Samarra’i operates a network that blends Iranian and Iraqi crude oils using a fleet of Liberia-registered vessels and two firms based in the United Arab Emirates—Babylon and Galaxy Oil—to conceal the oil’s true origin and circumvent sanctions.
- The scheme generates approximately $300 million each year, leading Secretary Scott Bessent to assert that by disrupting Iran’s oil income, the Treasury will further weaken the regime’s capacity to launch assaults against the U.S. and its allied nations.
- The sanctions block all related U.S. property interests and warn foreign financial institutions of secondary sanctions, reflecting the U.S. commitment to disrupt Tehran’s sanction evasion and counter Iran’s influence in Iraq.
25 Articles
25 Articles
The U.S. Treasury Department, through its Office of Foreign Assets Control (OFAC), today announced new sanctions against a network of shipping companies and ships led by Iraqi-Kitttiian businessman Waleed Khaled Hameed al-Samarra'i, accused of smuggling Iranian oil mixed with Iraqi oil to evade international sanctions. Read more]]>
U.S. Sanctions Network Moving Iranian Oil Disguised as Iraqi Crude
The U.S. Treasury Department on Tuesday rolled out new sanctions against a shipping network accused of smuggling Iranian crude under the cover of Iraqi origin, part of Washington’s broader effort to choke off Tehran’s oil revenues. The network is led by a businessman holding Iraqi and St. Kitts & Nevis citizenship and based in the United Arab Emirates. According to Treasury, his group covertly blended Iranian oil with Iraqi barrels and sold it a…
Asharq AL-awsat
GV WireUS Issues Iran-Related Sanctions on Network of Shipping Companies, Vessels
The US Treasury Department on Tuesday sanctioned a network of shipping companies and vessels led by an Iraqi-Kittitian businessman for smuggling Iranian oil disguised as Iraqi oil. "By targeting Iran’s oil revenue stream, Treasury will further degrade the regime’s ability to carry out attacks against the United States and its allies," Treasury Secretary Scott Bessent said in a statement. "We remain committed to an oil supply free from Iran and wi
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