The U.S. has imposed new sanctions against networks that have transported and purchased billions of dollars' worth of Iranian oil, the Treasury Department announced. The sanctions target a network of companies run by Iraqi businessman Salim Ahmed Said,

The Treasury Department is targeting Iranian networks that allegedly buy and transport billions of dollars worth of Iranian oil in violation of international sanctions.

The U.S. imposed sanctions on Thursday against a network that smuggles Iranian oil disguised as Iraqi oil and on a Hezbollah-controlled financial institution, the Treasury Department said.