US designates oil smuggling network linked to Lebanon’s Hezbollah, Iran’s Quds Force

The US announced Thursday the designation of members of an international oil smuggling network that facilitated oil trades and generated revenue for Lebanon’s Hezbollah and Iran’s Quds Force.

The network includes individuals and several front companies and vessels that worked to blend oil to conceal the Iranian origins of the shipments and exporting it around the world in support of Hezbollah and the IRGC-QF, according to a statement from the Treasury Department.

“The individuals running this illicit network use a web of shell companies and fraudulent tactics including document falsification to obfuscate the origins of Iranian oil, sell it on the international market, and evade sanctions,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson.

“Market participants should be vigilant of Hezbollah and the IRGC-QF’s attempts to generate revenue from oil smuggling to enable their terrorist activities around the world.”