OFAC Targets Oil Smuggling Network Involved With Iran
The Office of Foreign Assets Control is designating the international oil smuggling and money laundering network led by Islamic Revolutionary Guard Corps-Qods Force officials, according to a May 25 news release. The network has overseen the sale of "hundreds of millions of dollars’ worth of Iranian oil" for both the IRGC-QF and for Hezbollah, the Treasury Department said. IRGC-QF official Behnam Shahriyari and former IRGC-QF official Rostam Ghasemi head the network, backed by "senior levels of the Russian Federation government and state-run economic organs," Treasury said. The network has acted as a "critical element of Iran’s oil revenue generation," and support for proxy militant groups in the region.
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“The U.S. remains fully committed to holding the Iranian regime accountable for its support to terrorist proxies that destabilize the Middle East,” said Brian Nelson, undersecretary for terrorism and financial intelligence. “While the U.S. continues to seek a mutual return to full implementation of the Joint Comprehensive Plan of Action, we will not hesitate to target those who provide a critical lifeline of financial support and access to the international financial system” for the Qods Force or Hezbollah, Nelson said. “The U.S. will continue to strictly enforce sanctions on Iran’s illicit oil trade. Anyone purchasing oil from Iran faces the prospect of U.S. sanctions.”