US threatening to obstruct oil shipments to Syria; Russian and Iranian companies would face penalties.

9 month ago

Russian and Iranian companies and individuals would face sanctions from the US government regarding oil shipments to Syria.

the US Treasury Department has sanctioned Six individuals, and Three institutions for running a network of petroleum shipments to Syria.

the US Coast Guard has issued an advisory warning of “significant sanctions risks” on petroleum shipments to Syria. promising that any attempted shipments to government-owned ports in Syria would be stopped.

according to the treasury department claims that the individuals and companies affected by the measures are involved in a “complex and malign scheme” to bolster the regime of Syrian leader Bashar Assad. It claims that oil is being imported into Syria from Iran in defiance of American sanctions. The Syrian government then allegedly transfers cash to Islamic militant groups Hamas and Hezbollah, at Iran’s direction.

moreover, the Treasury also claimed that Russian companies act as a broker, taking money from Iran to move the oil to Syria.

The Society for Worldwide Interbank Financial Telecommunication cut the Iranian central bank off from its network a week later, making it even more difficult for the country to settle its import and export bills.

Treasury Undersecretary for Terrorism and Financial Intelligence, Sigal Mandelker, warned on Tuesday that “shipping companies, insurers, vessel owners, managers, and operators should all be aware of the grave consequences of engaging in sanctionable conduct involving Iranian oil shipments.”