U.S. Sanctions Network Moving Iranian Oil Disguised as Iraqi Crude ...Middle East

The U.S. Treasury Department on Tuesday rolled out new sanctions against a shipping network accused of smuggling Iranian crude under the cover of Iraqi origin, part of Washington’s broader effort to choke off Tehran’s oil revenues. The network is led by a businessman holding Iraqi and St. Kitts & Nevis citizenship and based in the United Arab Emirates. According to Treasury, his group covertly blended Iranian oil with Iraqi barrels and sold it abroad as if it were entirely of Iraqi origin—an effort to skirt restrictions that…

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