US Files Complaint To Forfeit $47 Million From Iranian Oil Sales

The United States has taken legal action to seize $47 million in proceeds from the sale of nearly one million barrels of Iranian oil, alleging the funds are linked to organisations designated as terrorist groups.

A civil forfeiture complaint was filed in the US District Court for the District of Columbia, claiming the money was generated through a covert scheme involving the shipment, storage, and sale of Iranian petroleum.

The oil was sold in 2024 after being disguised as Malaysian-origin crude and stored at a Croatian facility.

According to the complaint, between 2022 and 2024, individuals involved in the scheme manipulated a tanker’s automatic identification system (AIS) to conceal that the oil was originally loaded in Iran.

The oil’s handlers presented false documents to Croatian authorities, claiming it was Malaysian.

The petroleum was stored at the Jadranski Naftovod storage facility in Omisalj, Croatia, and storage fees were paid in US dollars through American financial institutions.

Authorities believe the banks involved would have blocked the transactions had they known the oil was Iranian.

After its sale in 2024, the United States seized the $47 million in proceeds, stating that the money was intended to support the Islamic Revolutionary Guard Corps (IRGC) and its Qods Force (IRGC-QF), both designated Foreign Terrorist Organisations (FTOs) by the US.

US Attorney Edward R. Martin, Jr., head of the Justice Department’s National Security Division Sue J. Bai, FBI Special Agent in Charge Alvin M. Winston, Sr., and HSI Acting Special Agent in Charge Michaell Alfonso announced the forfeiture complaint.

Officials stated that the US will aggressively enforce sanctions against Iran to prevent Tehran from using illicit oil revenues to fund activities like weapons proliferation, terrorism, and human rights abuses.

Martin added that US authorities will not allow Iranian oil transactions to bypass sanctions through fraudulent means. According to him, these enforcement actions aim to disrupt Iran’s ability to generate funds for groups involved in terrorism.

An FBI official also warned that hostile regimes will not be allowed to exploit the US financial system to fund sanctioned organisations.

Authorities stated that any forfeited funds with ties to a state sponsor of terrorism may be allocated to the US Victims of State Sponsored Terrorism Fund.

The investigation is being conducted by the FBI Minneapolis Field Office and Homeland Security Investigations (HSI) New York, with support from multiple agencies.

Reference: US Department of Justice

Source: Maritime Shipping News