More Iran Oil Sanctions

Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on a global network of entities and individuals facilitating billions of dollars in illicit Iranian oil sales, including smuggling operations benefiting Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), a designated Foreign Terrorist Organization.

The July 3rd action  designated Iraqi-British national Salim Ahmed Said and multiple UAE- and UK-based companies under his control for disguising Iranian oil as Iraqi-origin crude and selling it on global markets using forged documents and ship-to-ship transfers. Said’s network relied on bribery of Iraqi officials and falsified export documentation.

Entities targeted include VS Tankers FZE, VS Oil Terminal FZE, VS Petroleum DMCC, Rhine Shipping DMCC, The Willett Hotel Limited, and Robinbest Limited, as well as affiliated vessels such as the DIJILAH.

Said and his companies were sanctioned under Executive Order (E.O.) 13902 for operating in Iran’s petroleum sector.

In parallel, the State Department designated six companies and identified four vessels under E.O. 13846 for transactions involving Iranian petroleum.

Several vessels and companies linked to Iran’s “shadow fleet” were also sanctioned, including Singapore-based Trans Arctic Global Marine Services, which arranged piloting for sanctioned Iranian tankers through the Strait of Malacca.

Sanctioned ships include the VIZURI, FOTIS, THEMIS, and BIANCA JOYSEL, which collectively moved tens of millions of barrels of Iranian oil.

Treasury also targeted shipping companies facilitating IRGC-QF-linked oil sales. These include Seychelles-based White Sands Shipmanagement, Grat Shipping Co Ltd, and Liberia-based Dima Shipping & Trading Co., whose vessels—the ELIZABET, ATILA, and GAS MARYAM, respectively—transported Iranian petroleum in coordination with the IRGC-QF front Al-Qatirji Company.

“These actions reinforce our commitment to disrupt Tehran’s oil revenue streams and deny funding to its terrorist proxies,” said Treasury Secretary Scott Bessent.