U.S. Imposes New Sanctions on Iranian Oil Network

(MENAFN) The United States unveiled fresh punitive measures on Tuesday targeting an Iranian entrepreneur and his expansive shipping enterprise, which is accused of distributing oil and gas to overseas buyers.

"Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating Iranian national and liquified petroleum gas (LPG) magnate Seyed Asadoollah Emamjomeh and his corporate network, which is collectively responsible for shipping hundreds of millions of dollars’ worth of Iranian LPG and crude oil to foreign markets," stated the Treasury Department in an official communication.

Authorities in Washington claimed that the money generated from exporting petroleum and gas is being used to finance Iran’s missile development and atomic initiatives, in addition to supporting entities like Hezbollah, the Houthis, and Hamas.

"This network was created to avoid sanctions and help fund Iran's dangerous activities," explained State Department representative Tammy Bruce.

"We will continue to act against anyone helping Iran raise money for these purposes."

Bruce also emphasized that the "Trump Administration will vigorously enforce all US sanctions on Iran as part of its maximum pressure campaign."

Additionally, the Treasury Department asserted that Emamjomeh’s enterprise violated U.S. restrictions by covertly transferring Iranian petroleum products using a complex structure of businesses.

Consequently, Washington has blocked all network assets under U.S. jurisdiction and prohibited American nationals from engaging in any financial dealings with them.

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