US slaps sanctions on Iran oil smuggling network fuelling Hezbollah and militants
A separate set of sanctions also targeted a financial institution tied to Hezbollah, the Iran-backed militant group designated as a terrorist organisation by the US.Iranian oil exports have been under severe restrictions due to Iran's nuclear ambitions and its support for proxy groups across the Middle East.According to a 2023 Reuters investigation, a fuel-oil smuggling network flourishing in Iraq since 2022 generates at least $1 billion a year for Iran and its proxies — funds the US now seeks to freeze.Thursday's sanctions came after 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 program by up to two years, despite a far more cautious initial assessment that had leaked to the public.The US and Iran are expected to hold indirect talks in Oslo next week to discuss Iran's nuclear programme — though tensions over oil smuggling, sanctions, and recent military actions could overshadow the dialogue.- EndsWith inputs from ReutersMust Watch
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