Oil Smuggling Network Designated by U.S. Treasury

Estimated to be funneling hundreds of millions to militant Islamic terrorists.

Last month, the Office of Foreign Assets Control (OFAC) within the U.S. Treasury Department designated an international oil smuggling and money laundering network that has been a “critical element of Iran’s oil revenue generation.“ The network, led by Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) officials, has also been backed by high-level Russian government officials and state-run entities.

“The United States remains fully committed to holding the Iranian regime accountable for its support to terrorist proxies that destabilize the Middle East,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson. “While the United States continues to seek a mutual return to full implementation of the Joint Comprehensive Plan of Action, we will not hesitate to target those who provide a critical lifeline of financial support and access to the international financial system for the Qods Force or Hizballah.“

He added, “In particular, the United States will continue to strictly enforce sanctions on Iran’s illicit oil trade. Anyone purchasing oil from Iran faces the prospect of U.S. sanctions.”

As the Lord Leads, Pray with Us…

  • For the president and administration officials as they address the funding of terror regimes.
  • For Under Secretary Nelson as he oversees the evaluation of terrorism and financial intelligence.
  • For State and Treasury Department officials as they determine and implement sanctions.

Sources: Department of Treasury


Back to top