Netanyahu: Iran smuggling oil at sea, attempting to bypass sanctions

The international community must “halt, by any means, Iran’s attempts to bypass the sanctions via the sea,” Netanyahu stated.

By Aryeh Savir, TPS

Prime Minister Benjamin Netanyahu revealed that Iran is attempting to circumvent sanctions by covertly exporting petroleum at sea.

Speaking on Wednesday at the Haifa Navy Base during the Israel Navy cadets’ course graduation ceremony, Netanyahu charged that “Iran is trying to bypass the sanctions on it through the covert smuggling of petroleum via the sea. As these attempts expand, the navy will have a more important role in efforts to block these Iranian actions.”

The international community must “halt, by any means, Iran’s attempts to bypass the sanctions via the sea,” he stated.

Last November, American President Donald Trump reimposed a set of harsh sanctions on the Islamic Republic. Earlier in the year, the U.S. withdrew from the nuclear deal with Iran. The sanctions end all the economic benefits gained by Tehran in the nuclear agreement.

The sanctions targeted Iran’s financial, petroleum and transportation industries. Iran’s currency has tanked, and its oil exports have also dropped by 40 percent in the past year.

The financial crisis in the Islamic Republic has also significantly affected one of its primary terror proxies, the Lebanon-based Hezbollah terror organization.

The loss of oil revenue appears to be impacting Iran’s ability to fund its terror activities. Based on current estimates of Iranian oil exports, one day of lost oil revenue equals Iran’s annual support to Hamas – $80-100 million. A week of lost oil revenue amounts to $800 million, Iran’s yearly payments to Hezbollah.