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Iraqi News
07-07-2025
- Business
- Iraqi News
US sanctions on Iran oil smuggling threaten to hinder Iraq's investment drive
Baghdad ( – A new wave of intensified U.S. sanctions targeting Iranian oil smuggling networks is threatening to create significant collateral damage for Iraq's own economic ambitions, according to a recent report by the energy-focused American website The analysis suggests that as Washington escalates its 'maximum pressure' campaign against Tehran, Iraqi entities and infrastructure are being caught in the crossfire, potentially hindering Baghdad's efforts to attract international investment. This new phase of sanctions comes just weeks after a hypothetical second Trump administration conducted major military strikes on Iranian nuclear facilities. The U.S. Treasury Department has now designated over 30 new entities, individuals, and vessels involved in what it calls an illicit, multi-billion-dollar trade network. The report highlights that the sanctions focus on a network allegedly run by British-Iraqi citizen Salim Ahmed Saeed. According to the U.S. Treasury's Office of Foreign Assets Control (OFAC), this network has been smuggling Iranian oil by disguising it as or mixing it with Iraqi oil since at least 2020. Specific Iraqi-linked assets have been targeted, including the VS Oil Terminal at Iraq's Khor Al-Zubair port, which is owned by Saeed. The U.S. also noted ship-to-ship transfers occurring near this terminal and pointed to the routine use of forged documents to mask the oil's origin. The sanctions also named the Marshall Islands-flagged tanker 'Dijla' and other UAE-based companies and vessels involved in the network, some of which facilitated sales for Iran's IRGC-Quds Force. For Iraq, the implications are severe. The report argues that while Baghdad is actively trying to boost cooperation and investment with the West, sanctions that include Iraq-linked operators can make international investors wary of entering the country's vital oil, gas, and port sectors. This development adds another layer of instability to an already complex situation. Iraq is still navigating its own energy needs, internal political dynamics including the federal-KRG oil dispute, and the presence of armed factions. The broader U.S.-Iran conflict directly exacerbates these political and economic uncertainties. The report frames Washington's actions as a dual strategy under a second Trump administration: first, to exert maximum economic pressure on Tehran to force negotiations, and second, to actively attempt to pull Iraq into the Western sphere of influence, countering the growing regional roles of China and Russia. Ultimately, Iraq finds itself in a perilous position—geographically and economically tied to Iran, yet seeking the Western investment necessary for its development. Navigating this geopolitical minefield will be a critical challenge for Baghdad as it tries to pursue its own national interests amidst a major regional power struggle.
Iraqi News
04-07-2025
- Business
- Iraqi News
US sanctions network for smuggling Iranian oil under Iraqi cover
Washington D.C. ( – The U.S. Department of the Treasury announced on Thursday (July 3, 2025) that it has imposed sanctions on a business network it accuses of smuggling billions of dollars' worth of Iranian oil by using an Iraqi legal cover. The Treasury stated the network, allegedly run by Iraqi businessman Salim Ahmed Saeed, has been purchasing and shipping Iranian oil 'disguised as or mixed with Iraqi oil' since at least 2020. Several ships accused of being part of Iran's 'shadow fleet' were also sanctioned. 'The Treasury will continue to target Tehran's sources of income… to disrupt the regime's access to financial resources that fuel its destabilizing activities,' a statement from the department read. Separately, the Treasury also sanctioned senior officials and an entity linked to Hezbollah's financial institution, 'Al-Qard Al-Hasan.' The announcement comes after Iraq's Oil Minister previously stated that Iran had forged documents using Iraq's name for oil shipments, and that the Iraqi government had informed Washington it was not responsible, noting that all official Iraqi shipments are monitored by satellite.
