Iran blasts 'ineffective' US sanctions

'The unproductive, illogical, and inefficient sanctions against Iranian legal and real entities will definitely fail and will not produce the desired results aspired by their planners,' said Bahram Qasemi.

They will sooner or later realize that such a mindset is worthless, Qasemi added.

The US Department of Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned nine individuals and entities for the alleged shipping of the Iranian oil to Syria and for the so-called financing of Hezbollah and Hamas.

The US Treasury Department in a statement on Tuesday claimed that it had discovered the illicit Iran-Russia-Syria network which aims to finance terrorism.

The statement also accused officials of the Central Bank of Iran (CBI) to exploit the international financial system, claiming that they use a company whose name suggests a trade in humanitarian goods as a tool to facilitate financial transfers supporting this oil scheme.

Accordingly, the US has blacklisted Mohammad Amer Alchwiki and his Russia-based company as central figures in complex Iran-Russia-Syria oil.

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