Hundreds of millions of dollars of oil revenue evaded sanctions Also aided Iranian petrochemical sales, gold transfers US authorities May 25 announced new sanctions on several individuals and entities involved in an international oil smuggling and money laundering network that has allowed Iran to skirt oil sanctions and fund terrorist groups in the Middle East.

The network facilitated sales of Iranian oil for the Islamic Revolutionary Guard Corps-Qods Force and Hezbollah, both of which have been designated as foreign terrorist organizations, allowing Iran to continue generating hundreds of millions of dollars of oil revenue in contravention of US-imposed sanctions on the country’s oil sector, US officials said. Statements from the US State and Treasury departments identified IRGC-QF official Behnam Shahriyari and former IRGC-QF official Rostam Ghasemi as the leaders of the oil smuggling network, and also […]