Iraq responds to reports of ‘buying Iranian crude’ or ‘re-exporting it': We have strict controls

Iraq responds to reports of ‘buying Iranian crude’ or ‘re-exporting it': We have strict controls

2025-02-03 06:12

Iraq responds to reports of buying Iranian crude or re-exporting it - We have strict controlsShafaq News/ The Iraqi Ministry of Oil denied, on Monday, the accuracy of reports stating that Iraq “bought Iranian crude oil”, “received it” or “re-exported it”, stressing that export operations “are subject to strict controls.”

The ministry said in a statement: “All quantities of Iraqi crude oil are exported according to international mechanisms and standards that ensure the highest levels of transparency, as oil is sold to well-known international companies that own approved refineries,” according to Reuters.

Last December, the US Treasury Department imposed sanctions on 35 entities and vessels that it said “play a vital role” in transporting illicit Iranian oil to foreign markets.

The resolution stated that the sanctions aim to increase the costs on Iran’s oil sector, following its attack on Israel on October 1, as well as the nuclear escalation it announced.

A statement by the US Treasury stated that oil revenues provide the Iranian regime with the resources necessary to finance its nuclear program, develop advanced drones and missiles, in addition to providing ongoing financial and material support for terrorist activities.

Iran uses extensive networks of tankers and ship management companies to export oil, according to the Treasury Department, using tactics such as falsifying documents and disrupting ship tracking systems.

shafaq.com