U.S. Treasury Cracks Down on Iranian Oil Smuggling Network

The U.S. Treasury Department has imposed sanctions on a network of shipping companies and vessels, led by an Iraqi-Kittitian businessman, for their involvement in smuggling Iranian oil disguised as Iraqi oil.

Treasury Secretary Scott Bessent announced the move, stating that targeting Iran's oil revenue stream will help weaken the regime's ability to execute attacks against the United States and its allies.

He reiterated the commitment to ensuring an oil supply free from Iranian influence, vowing continued efforts to disrupt Tehran's attempts to bypass U.S. sanctions.

(With inputs from agencies.)