Pakistan, July 3 -- The United States has announced new sanctions on a business network involved in Iranian oil trade and a Hezbollah-linked financial group. The U.S. Treasury Department confirmed these actions are part of efforts to increase pressure on Iran's economy and Hezbollah's financial system. These sanctions aim to cut off illegal financial sources funding terrorism and instability.

According to Reuters, the targeted network is run by Iraqi businessman Salim Ahmed Said. Since at least 2020, his companies have reportedly been disguising Iranian oil as Iraqi oil or blending it for sale. This operation has moved oil worth billions of dollars across global markets. The U.S. said this illegal trade helps Tehran bypass sanctions and ...