By Tiffany Williams –
WASHINGTON — The United States announced new sanctions Tuesday targeting a network of companies and vessels accused of helping Iran disguise oil exports and funnel revenues to its government.
The Treasury Department said the sanctions focus on businessman Waleed al-Samarra’i, a dual citizen of Iraq and Saint Kitts and Nevis, who allegedly led the operation smuggling Iranian oil under the guise of Iraqi shipments.
Officials said the move is part of a broader effort under Executive Order 13902, which authorizes sanctions on those operating in sectors of Iran’s economy, including petroleum and petrochemicals.
“The United States will not hesitate to utilize all available tools at our disposal to counter those who enable Iran’s illicit oil trade,” the administration said in a statement, citing National Security Presidential Memorandum 2, which directs maximum pressure on Tehran to restrict revenues used for destabilizing activities in Iraq, the Middle East, and beyond.
The sanctions freeze any U.S. assets belonging to the targeted companies and vessels and prohibit Americans from conducting business with them.