The U.S. on Nov. 20 said it sanctioned six individuals and three entities to disrupt an Iranian-Russian network that it said was providing millions of barrels of oil to the Syrian government and funding militant groups Hamas and Hezbollah.
U.S. officials said Russia facilitated the delivery of oil from Iran to Syria, and that a variety of mechanisms were used in an attempt to conceal the shipments and oil-related payments.
"Today we are acting against a complex scheme Iran and Russia have used to bolster the [Syrian President Bashar al-] Assad regime and generate funds for Iranian malign activity," U.S. Treasury Secretary Steven Mnuchin said in a statement.
"Central Bank of Iran officials continue to exploit the international financial system," he added.
Among those targeted are Syrian national Mohammad Amer Alchwiki and his Russia-based company, Global Vision Group, the Treasury Department said in a statement.
Other targets include: Syrian national Hajji Abd Al-Nasir, Lebanon national Muhammad Qasim Al-Bazzal and Russian national Andrey Dogaev as well as Iranian nationals Rasoul Sajjad and Hossein Yaghoubi Miab, the statement said.
The U.S. Treasury's 'designation' of the individuals and entities effectively cuts them off from the global financial system by blocking any of their assets under U.S. jurisdiction and warning non-U.S. institutions against dealing with them.
Recommended Reading
E&Ps Posting Big Dean Wells at Midland’s Martin-Howard Border
2025-04-11 - Diamondback Energy, SM Energy and Occidental Petroleum are adding Dean laterals to multi-well developments south of the Dean play’s hotspot in southern Dawson County, according to Texas Railroad Commission data.
On The Market This Week (April 7, 2025)
2025-04-11 - Here is a roundup of marketed oil and gas leaseholds in the Permian, Uinta, Haynesville and Niobrara from select E&Ps for the week of April 7, 2025.
US Oil Rig Count Falls by Most in a Week Since June 2023
2025-04-11 - The oil and gas rig count fell by seven to 583 in the week to April 11. Baker Hughes said this week's decline puts the total rig count down 34 rigs, or 6% below this time last year.
IOG, Elevation Resources to Jointly Develop Permian Wells
2025-04-10 - IOG Resources and Elevation Resources’ partnership will focus on drilling 10 horizontal Barnett wells in the Permian’s Andrews County, Texas.
Saudi Aramco Discovers 14 Minor Oil, Gas Reservoirs
2025-04-10 - Saudi Aramco’s discoveries in the eastern region and Empty Quarter totaled about 8,200 bbl/d.