US sanctions Iranian oil network for allegedly funding weapons

The US announced new sanctions Tuesday against an Iranian businessman and his large shipping network for allegedly selling oil and gas to other countries.

"Today, the Department of the Treasury's Office of Foreign Assets Control (OFAC) is designating Iranian national and liquified petroleum gas (LPG) magnate Seyed Asadoollah Emamjomeh and his corporate network, which is collectively responsible for shipping hundreds of millions of dollars' worth of Iranian LPG and crude oil to foreign markets," said a statement by the Treasury Department.

Washington alleged that revenue from exporting oil and LPG funds Iran's ballistic missile and nuclear programs, and supports groups such as Hezbollah, the Houthis and Hamas.

"This network was created to avoid sanctions and help fund Iran's dangerous activities," said State Department spokesperson Tammy Bruce. "We will continue to act against anyone helping Iran raise money for these purposes."

Bruce added that the "Trump Administration will vigorously enforce all US sanctions on Iran as part of its maximum pressure campaign."

The Treasury Department also alleged that Emamjomeh's network broke American sanctions by secretly selling Iranian oil and gas through a web of companies. As a result, the US has frozen assets of the network in American control and banned US citizens from doing business with them.

Officials warned that anyone helping the individuals or companies could face serious financial or legal consequences.