New U.S. Sanctions Target Iranian Oil Tycoon, Shipping Network

(MENAFN) The United States unveiled new sanctions on Tuesday targeting Iranian businessman Seyed Asadoollah Emamjomeh and his extensive shipping operation for allegedly trafficking oil and gas to other nations.

The Treasury Department's Office of Foreign Assets Control (OFAC) issued a statement saying, "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."

The U.S. claims that profits from these exports fund Iran's missile and nuclear programs and support groups like Hezbollah, Hamas, and the Houthis.

"This network was created to avoid sanctions and help fund Iran's dangerous activities," stated State Department spokesperson Tammy Bruce. "We will continue to act against anyone helping Iran raise money for these purposes."

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

The Treasury Department further accused Emamjomeh's network of circumventing U.S. sanctions by secretly selling Iranian oil and gas through a series of shell companies. Consequently, the U.S. has frozen assets under its control and prohibited U.S. citizens from engaging in any business dealings with the network.

Officials warned that anyone found aiding these individuals or entities could face significant legal and financial penalties.

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