12/8/2022, 9:07 PM (Source: TeleTrader)
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US designates Turkish businessman's network over sanctions evasion

United States Secretary of State Antony Blinken said in a statement on Thursday that the US Treasury Department designated Turkish businessman Sitki Ayan and his network, which includes four individuals and 26 entities, for allegedly violating sanctions against Iran and Hezbollah.

Blinken claimed that Ayan's network of companies "facilitated shipments" of Iranian oil to Russia and China in partnership with the Islamic Revolutionary Guard Corps Quds Force (IRGC-QF).

"For years, Ayan's companies have established international sales contracts for Iranian oil with foreign purchasers, arranged shipments of oil, and helped launder the proceeds, obscuring the oil's Iranian origin and the IRGC-QF’s interest in the sales," the US official added and warned the US will continue to enforce sanctions on the IRGC's "illicit oil sales."

Baha Breaking News (BBN) / NP