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Commodities

US Sanctions Singapore-Based Oil Trader Over Ties to Iran

Guavy AI Editorial Team
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Oil
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The United States has imposed sanctions on Singapore-based Wellbred Capital and its trading firms in the UAE and Switzerland for their ties to Iran.

The move is part of a broader effort by the US to target Tehran's global financial links, as it escalates measures against the Iranian regime's destabilizing activities.

The company, which trades in oil, naphtha, petrochemicals, and liquefied petroleum gas, has been linked to Iranian oil shipping magnate Mohammad Hossein Shamkhani, who is ultimately responsible for Wellbred's operations.

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