US sanctions network accused of moving Iranian oil disguised as Iraqi

“By targeting Iran’s oil revenue stream, Treasury will further degrade the regime’s ability to carry out attacks against the United States and its allies,” Treasury Secretary Scott Bessent said in a statement quoted by Reuters.

He added, “We remain committed to an oil supply free from Iran and will continue our efforts to disrupt the ongoing attempts by Tehran to evade US sanctions.”

The sanctions come as talks on Iran’s nuclear programme remain stalled. A sixth round of negotiations was suspended after a 12-day conflict in June. A senior Iranian official said on Tuesday that negotiations were “not closed,” but US demands over missile restrictions were blocking progress, Reuters reported.

Treasury said it had designated the businessman, Babylon Navigation DMCC one of two UAE-based companies he runs – and several Liberia-flagged tankers, including the Adena, Liliana and Camilla. The department said the tankers helped blend Iranian and Iraqi oil at sea and in Iraqi ports.

Several Marshall Islands-based companies were also sanctioned, including Tryfo Navigation, Keely Shiptrade Limited, Odiar Management SA, Panarea Marine SA and Topsail Shipholding Inc. Treasury said they acted as registered owners of the vessels in an attempt to hide the businessman’s involvement.

Iran’s mission to the United Nations in New York did not immediately respond to Reuters’ request for comment.

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