The US has imposed new sanctions against a network that smuggles Iranian oil falsely presented as Iraqi oil and on a Hezbollah-controlled financial institution, the Treasury Department said.
A network of companies run by Iraqi-British national Salim Ahmed Said has been buying and shipping billions of dollars worth of Iranian oil disguised as, or blended with, Iraqi oil since at least 2020, the department said.
“Treasury will continue to target Tehran’s revenue sources and intensify economic pressure to disrupt the regime’s access to the financial resources that fuel its destabilising activities,” Treasury Secretary Scott Bessent said.
The US has imposed layers of sanctions on Iran's oil exports over its nuclear programme and funding of militias across the Middle East.
“As President Trump has made clear, Iran’s behaviour has left it decimated. While it has had every opportunity to choose peace, its leaders have chosen extremism,” added Mr Bessent.
The Treasury Department also issued sanctions against seven senior officials and one entity linked to Al Qard Al Hassan (AQAH), a Hezbollah-controlled financial institution. The armed Hezbollah group is Iran’s proxy in Lebanon.
“These officials, through their management roles, have facilitated Hezbollah’s evasion of sanctions, enabling AQAH to conduct millions of dollars in transactions through 'shadow' accounts,” said State Department spokeswoman Tammy Bruce.
This comes as the Trump administration intensifies efforts to pressure Tehran into returning to nuclear negotiations and to clamp down on its proxies across the region.
The US carried out strikes on June 22 on three Iranian nuclear sites including its most deeply buried enrichment plant, Fordow. The Pentagon said on Wednesday the strikes had degraded Iran's nuclear programme by up to two years, despite a far more cautious initial assessment that had leaked to the public.
The US and Iran were expected to hold talks about its nuclear programme next week in Oslo, Axios reported.
Said’s companies and vessels blend Iranian oil with Iraqi oil, which is then sold to western buyers through Iraq or the Gulf as purely Iraqi oil using forged documentation to avoid sanctions, Treasury said.
Said controls Gulf-based company VS Tankers, although he avoids formal association with it, the Treasury said. Formerly known as Al Iraqia Shipping Services & Oil Trading (Aissot), VS Tankers has smuggled oil for the benefit of the Iranian government and the Islamic Revolutionary Guard Corps, which is designated by Washington as a terrorist organisation, it said.
The sanctions block US assets of those designated and prevent Americans from doing business with them.
Hezbollah trying to rebuild its operations
The Lebanese armed group Hezbollah has been severely weakened following a year-long war with Israel that ended in November.
The US Treasury said the new sanctions underscore a commitment to disrupting the group’s sanctions evasion schemes and supporting efforts by the new Lebanese government to limit Hezbollah’s influence.
“Through their roles at AQAH, these officials sought to obfuscate Hezbollah’s interest in seemingly legitimate transactions at Lebanese financial institutions, exposing these banks to significant AML/CFT [money laundering and terrorism financing] risk while allowing Hezbollah to funnel money for its own benefit,” said Deputy Secretary Michael Faulkender.
“As Hezbollah seeks money to rebuild its operations, Treasury remains strongly committed to dismantling the group’s financial infrastructure and limiting its ability to reconstitute itself,” he added.
Hezbollah has long been described as a “state within a state” in Lebanon, maintaining its own military, security and social infrastructure that operates independently of government control. It also runs a parallel financial system, receiving funding from Iran and various independent sources, while managing its finances outside official state institutions.
Ms Bruce said that Washington remains committed to supporting Lebanon by disrupting schemes that empower Hezbollah’s destabilising influence. “We will continue to employ all available tools to ensure that this terrorist group no longer poses a threat to the Lebanese people and the region,” she said.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
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Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
Scotland v Ireland:
Scotland (15-1): Stuart Hogg; Tommy Seymour, Huw Jones, Sam Johnson, Sean Maitland; Finn Russell, Greig Laidlaw (capt); Josh Strauss, James Ritchie, Ryan Wilson; Jonny Gray, Grant Gilchrist; Simon Berghan, Stuart McInally, Allan Dell
Replacements: Fraser Brown, Jamie Bhatti, D'arcy Rae, Ben Toolis, Rob Harley, Ali Price, Pete Horne, Blair Kinghorn
Coach: Gregor Townsend (SCO)
Ireland (15-1): Rob Kearney; Keith Earls, Chris Farrell, Bundee Aki, Jacob Stockdale; Jonathan Sexton, Conor Murray; Jack Conan, Sean O'Brien, Peter O'Mahony; James Ryan, Quinn Roux; Tadhg Furlong, Rory Best (capt), Cian Healy
Replacements: Sean Cronin, Dave Kilcoyne, Andrew Porter, Ultan Dillane, Josh van der Flier, John Cooney, Joey Carbery, Jordan Larmour
Coach: Joe Schmidt (NZL)
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Brief scoreline:
Tottenham 1
Son 78'
Manchester City 0
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
How it works
Each player begins with one of the great empires of history, from Julius Caesar's Rome to Ramses of Egypt, spread over Europe and the Middle East.
Round by round, the player expands their empire. The more land they have, the more money they can take from their coffers for each go.
As unruled land and soldiers are acquired, players must feed them. When a player comes up against land held by another army, they can choose to battle for supremacy.
A dice-based battle system is used and players can get the edge on their enemy with by deploying a renowned hero on the battlefield.
Players that lose battles and land will find their coffers dwindle and troops go hungry. The end goal? Global domination of course.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
More from Rashmee Roshan Lall
Other must-tries
Tomato and walnut salad
A lesson in simple, seasonal eating. Wedges of tomato, chunks of cucumber, thinly sliced red onion, coriander or parsley leaves, and perhaps some fresh dill are drizzled with a crushed walnut and garlic dressing. Do consider yourself warned: if you eat this salad in Georgia during the summer months, the tomatoes will be so ripe and flavourful that every tomato you eat from that day forth will taste lacklustre in comparison.
Badrijani nigvzit
A delicious vegetarian snack or starter. It consists of thinly sliced, fried then cooled aubergine smothered with a thick and creamy walnut sauce and folded or rolled. Take note, even though it seems like you should be able to pick these morsels up with your hands, they’re not as durable as they look. A knife and fork is the way to go.
Pkhali
This healthy little dish (a nice antidote to the khachapuri) is usually made with steamed then chopped cabbage, spinach, beetroot or green beans, combined with walnuts, garlic and herbs to make a vegetable pâté or paste. The mix is then often formed into rounds, chilled in the fridge and topped with pomegranate seeds before being served.
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
