US Justice department sells off seized Iranian gasoline

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WASHINTON: US Department of Justice announced that it has sold four cargoes of Iranian gasoline that were seized from commercial tankers on the high seas. The sale totaled about 1.1 million barrels and netted about $40 million in proceeds. The buyers were classified. According to the Justice Department’s complaint, the shipments were intended for delivery to Venezuela and were set up by Iranian national Mahmoud Madanipour, who allegedly has ties to the Islamic Revolutionary Guard Corps (IRGC). The Iranian and Venezuelan petroleum sectors are both covered by strict American sanctions measures. “Iran continues to be a leading state sponsor of terrorism and a worldwide destabilizing force. It is with great satisfaction that I can announce that our intentions are to take the funds successfully forfeited from the fuel sales and provide them to the United States Victims of State Sponsored Terrorism Fund after the conclusion of the case,” said John Demers, Assistant Attorney General for National Security. TLTP