US slaps new sanctions on Iran’s oil trade

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.

Meanwhile, FlyDubai became the first international carrier to land at Tehran's Imam Khomeini Airport yesterday at the end of a 20-day suspension of flights that was imposed due to Israeli attacks on Iran, the official IRNA news agency reported.

The arrival of Flight FZ1930 at Iran's biggest airport from the airline's base in the United Arab Emirates marked the start of a gradual return to normal operations in Iranian airspace, IRNA said.

Domestic and international flights from all airports across the country -- except those in Isfahan and Tabriz -- will operate between 5:00 am and 6:00 pm, reports AFP.

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 were expected to hold talks about its nuclear program next week in Oslo, Axios reported.