Treasury Department Sanctions Ties to Iranian Suppliers

International company network concealing origins of petroleum shipments.

The Office of Foreign Assets Control (OFAC) at the Department of the Treasury has sanctioned an international group of countries for supplying Iranian oil to buyers in Asia. Several front companies were found to have been working closely with sanctioned Iranian brokers, concealing the true origins of shipments of petrochemicals and petroleum products. Those products were then sold to companies in the UAE, Hong Kong, and India.

“The United States is committed to severely restricting Iran’s illicit oil and petrochemical sales,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson. “So long as Iran refuses a mutual return to full implementation of the Joint Comprehensive Plan of Action, the United States will continue to enforce its sanctions on the sale of Iranian petroleum and petrochemical products.”

As the Lord Leads, Pray with Us…

  • For Under Secretary Nelson as he heads the Treasury’s Office of Terrorism and Financial Intelligence.
  • For Secretary Yellen to seek God’s wisdom as she leads the Treasury Department.
  • For State Department officials as they collaborate with the Treasury in responding to hostile international actors.

Sources: Treasury Department


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