US TREASURY TARGETS OIL SMUGGLING NETWORK GENERATING HUNDREDS OF MILLIONS OF DOLLARS FOR QODS FORCE AND HIZBALLAH

On 25 May, it was announced that OFAC was is designating an international oil smuggling and money laundering network led by Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) officials that has facilitated the sale of hundreds of millions of dollars’ worth of Iranian oil for both the IRGC-QF and Hizballah. This oil smuggling network, led by US-designated IRGC-QF official Behnam Shahriyari and former IRGC-QF official Rostam Ghasemi and backed by senior levels of the Russian Federation government and state-run economic organs, has acted as a critical element of Iran’s oil revenue generation, as well as its support for proxy militant groups that continue to perpetuate conflict and suffering throughout the region.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220525

https://home.treasury.gov/news/press-releases/jy0799

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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