WASHINGTON — The Treasury Department will expand Iran sanctions to target a network allegedly helping the government evade measures aimed at curbing oil exports, Washington announced Friday.
The department accused Iran on Friday of using front companies, financial institutions and businessmen “willing to engage in deceptive transactions to conceal the direct involvement” of the Tehran government in global oil transactions.
The US says the new sanctions target the network of Seyed Seyyedi, an Iranian businessman and director of Sima General Trading, as well as a network of companies based in the United Arab Emirates that Seyyedi allegedly controls. They also target National Iranian Oil Company representatives in Europe.
The US previously sanctioned Sima General as part of a network of Iranian government front companies allegedly involved in a sanctions evasion scheme with a Greek businessman.
Copyright 2013 The Associated Press.
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