US hits prominent Turkish executive with Iran oil sanctions




  • In US
  • 2022-12-08 18:48:59Z
  • By Associated Press

WASHINGTON (AP) - The Biden administration is imposing sanctions on a prominent Turkish businessman reportedly close to Turkey's President Recep Tayyip Erdogan for violations of U.S. restrictions on the sales of Iranian oil.

The Treasury Department announced Thursday it was penalizing Sitki Ayan and a number of companies he and his family and associates control for facilitating the sale of hundreds of millions of dollars of Iranian oil for Iran's Revolutionary Guard.

Ayan and his firms have also laundered the proceeds of those sales for both the Guard and Lebanon's Hezbollah movement, both of which are designated as "foreign terrorist organizations" by the U.S., Treasury said.

The sanctions include a freeze on any assets Ayan or the targeted companies may have in U.S. jurisdictions and bar Americans from doing any business with them.

"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 (Guard's) interest in the sales," Treasury said in a statement.

It said Ayan, his son, Bahaddin, and three associates had organized sales of Iranian oil in violation of U.S. sanctions for China, other east Asian nations, the United Arab Emirates and some customers in Europe through Ayan's Gibralter-based ASB Group of Companies Limited holding group.

ASB owns or controls numerous firms in Turkey, Cyprus, India and the Marshall Islands.

COMMENTS

More Related News

Ukraine: US sanctions Chinese firm helping Russia
Ukraine: US sanctions Chinese firm helping Russia's Wagner Group

Spacety China allegedly supplied satellite imagery of Ukraine to support Wagner's combat operations.

Panel approves supplemental spending of $1.1B as state spends its budget surplus
Panel approves supplemental spending of $1.1B as state spends its budget surplus

The conference committee report includes $200M to support an economic development project in Escanaba, plus money to fight blight and help businesses.

U.S. sanctions Paraguay VP, former president for corruption
U.S. sanctions Paraguay VP, former president for corruption
  • US
  • 2023-01-26 18:45:37Z

The United States issued sanctions against Paraguay's former President Horacio Cartes Jara and current Vice President Hugo Velázquez Moreno, unveiling...

Manchin bill would delay tax credits for electric vehicles
Manchin bill would delay tax credits for electric vehicles

Ratcheting up his criticism of the Biden administration, Democratic Sen. Joe Manchin on Wednesday moved to delay new tax credits for electric vehicles, a key...

Factbox-When might the U.S. default? Timeline of key events in debt limit battle
Factbox-When might the U.S. default? Timeline of key events in debt limit battle
  • US
  • 2023-01-25 12:14:41Z

The Treasury Department will release a quarterly document next week laying out how it plans to fund the government over the next three months. The document,...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: US