US imposes fresh sanctions targeting Iran oil trade, Hezbollah

US Treasury Secretary Scott Bessent said US will continue to target the financial resources that fuel Iran's 'destabilizing activities.' (Reuters/File)
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Updated 04 July 2025
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US imposes fresh sanctions targeting Iran oil trade, Hezbollah

  • Action targets network of companies buying and shipping billions of dollars worth of Iranian oil disguised as, or blended with, Iraqi oil

WASHINGTON: The US imposed sanctions on Thursday against a network that smuggles Iranian oil disguised 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 destabilizing activities,” Treasury Secretary Scott Bessent said.
The US has imposed waves of sanctions on Iran’s oil exports over its nuclear program and funding of militant groups across the Middle East.
Reuters reported late last year that a fuel oil smuggling network that generates at least $1 billion a year for Iran and its proxies has flourished in Iraq since 2022.
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 talks about its nuclear program next week in Oslo, Axios reported.
The Treasury Department also issued sanctions against several senior officials and one entity associated with the Hezbollah-controlled financial institution Al-Qard Al-Hassan.
The officials, the department said, conducted millions of dollars in transactions that ultimately benefited, but obscured, Hezbollah.


First Ramadan after truce brings flicker of joy in devastated Gaza

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First Ramadan after truce brings flicker of joy in devastated Gaza

  • Ramadan lanterns and string lights appear on streets lined with collapsed buildings and piles of rubble in Gaza City
  • The first holy month since the October ceasefire brings mixed feelings for the many still living in tents
GAZA CITY: Little Ramadan lanterns and string lights appeared on streets lined with collapsed buildings and piles of rubble in Gaza City, bringing joy and respite as Islam’s holiest month began — the first since October’s ceasefire.
In the Omari mosque, dozens of worshippers performed the first Ramadan morning prayer, fajr, bare feet on the carpet but donning heavy jackets to stave off the winter cold.
“Despite the occupation, the destruction of mosques and schools, and the demolition of our homes... we came in spite of these harsh conditions,” Abu Adam, a resident of Gaza City who came to pray, told AFP.
“Even last night, when the area was targeted, we remained determined to head to the mosque to worship God,” he said.
A security source in Gaza told AFP Wednesday that artillery shelling targeted the eastern parts of Gaza City that morning.
The source added that artillery shelling also targeted a refugee camp in central Gaza.
Israel does not allow international journalists to enter the Gaza Strip, preventing AFP and other news organizations from independently verifying casualty figures.

‘Stifled joy’

In Gaza’s south, tens of thousands of people still live in tents and makeshift shelters as they wait for the territory’s reconstruction after a US-brokered ceasefire took hold in October.
Nivin Ahmed, who lives in a tent in the area known as Al-Mawasi, told AFP this first Ramadan without war brought “mixed and varied feelings.”
“The joy is stifled. We miss people who were martyred, are still missing, detained, or even traveled,” she said.
“The Ramadan table used to be full of the most delicious dishes and bring together all our loved ones,” the 50-year-old said.
“Today, I can barely prepare a main dish and a side dish. Everything is expensive. I can’t invite anyone for Iftar or suhoor,” she said, referring to the meals eaten before and after the daily fast of Ramadan.
Despite the ceasefire, shortages remain in Gaza, whose battered economy and material damage have rendered most residents at least partly dependent on humanitarian aid for their basic needs.
But with all entries into the tiny territory under Israeli control, not enough goods are able to enter to bring prices down, according to the United Nations and aid groups.

‘Still special’

Maha Fathi, 37, was displaced from Gaza City and lives in a tent west of the city.
“Despite all the destruction and suffering in Gaza, Ramadan is still special,” she told AFP.
“People have begun to empathize with each other’s suffering again after everyone was preoccupied with themselves during the war.”
She said that her family and neighbors were able to share moments of joy as they prepared food for suhoor and set up Ramadan decorations.
“Everyone longs for the atmosphere of Ramadan. Seeing the decorations and the activity in the markets fills us with hope for a return to stability,” she added.
On the beach at central Gaza’s Deir el-Balah, Palestinian artist Yazeed Abu Jarad contributed to the holiday spirit with his art.
In the sand near the Mediterranean Sea, he sculpted “Welcome Ramadan” in ornate Arabic calligraphy, under the curious eye of children from a nearby tent camp.
Nearly all of Gaza’s 2.2 million residents were displaced at least once during the more than two years of war between Israel and Hamas, sparked by the latter’s unprecedented October 7 attack on Israel.
Mohammed Al-Madhoun, 43, also lives in a tent west of Gaza City, and hoped for brighter days ahead.
“I hope this is the last Ramadan we spend in tents. I feel helpless in front of my children when they ask me to buy lanterns and dream of an Iftar table with all their favorite foods.”
“We try to find joy despite everything,” he said, describing his first Ramadan night out with the neighbors, eating the pre-fast meal and praying.
“The children were as if they were on a picnic,” he said.